Yantai, a coastal city of Shandong province, signs deals for projects costing 62.4 billion yuan ($ 8.82 billion) on June 30. [Photo provided to chinadaily.com.cn]

A total of 12 major projects costing 62.4 billion yuan ($8.82 billion) were inked at the Yantai sub-venue of a mega investment promotional event.

The Second Conference of Great Business Partners and the International Summit on Innovation and Development for Youth Entrepreneurs opened on June 30 via online channels across Shandong's 16 cities.

The event involves thousands of participants and is an effort by Shandong to further open up and bolster its high-quality development.

Zhang Shuping, Party secretary of Yantai converses online with attendees at the conference on June 30. [Photo/jiaodong.net]

Yantai, a coastal city of Shandong province, signed deals for projects related to emerging fields such as equipment manufacturing, the next-generation information technology, healthcare, and new materials.

In Yantai, the conference was held at the Yantai Dongshan Guesthouse. Zhang Shuping, Party secretary of Yantai, Chen Fei, mayor of Yantai, and Zhang Dailing, deputy secretary of Yantai attended.

More than 900 people including executives from well-known enterprises and business associations also took part online.

Chen Fei, mayor of Yantai, delivers a keynote speech at the conference on June 30. [Photo/jiaodong.net]

Zhang Shuping conversed online with Xu Rongmao, the founder and chairman of Hong Kong Shimao Group, Mao Juncai, CEO of Greenland Holding Group, and Song Liding, chairman of China Great Wall Technology Group.

He said that Yantai boasts a flourishing real economy and has a bright future in developing its emerging industries.

The coastal city is a part of the China (Shandong) Pilot Free Trade Zone, the Shandong International Investment Industrial Park, and the Shandong comprehensive pilot area for replacing old growth drivers with new ones.

"The city is working to optimize its business environment and offer comprehensive services to attract more industrial projects," Zhang Shuping added.

He expressed hope that more entrepreneurs would come to Yantai to start businesses and promote more extensive cooperation.