A promotional conference focusing on the achievements of the China (Shandong) Pilot Free Trade Zone Yantai Area is held on Aug 18. [Photo provided to chinadaily.com.cn]

A promotional conference focusing on the reforms and considerable innovation achievements of the China (Shandong) Pilot Free Trade Zone Yantai Area – located in the port city of Yantai in East China’s Shandong province – was held on Aug 18, according to local officials.

Officials said the conference provided information to more than 30 media outlets, so they could report on the fruitful results the area has generated in the past one year in foreign trade, smart tax services, government services and financial innovation.

They added that the Shandong FTZ Yantai Area – launched on Aug 31, 2019 – has made significant progress in attracting top professionals and international projects, as well as optimizing its business environment.

Covering an area of 29.99 square kilometers, the area focuses on the development of high-end equipment manufacturing, new materials, new generation of information technology, energy conservation, biomedicines and producer services.

Officials said the launch of the Shandong FTZ Yantai Area pushed the opening up of Yantai city into a new era.

It is helping Yantai become more open to investment, finance, education and medicine and the city is allowing more foreign-owned or foreign-funded companies to operate and invest in more areas.

Zhang Dailing, vice-mayor of Yantai, told the conference that more efforts would be made by local government to provide a favorable environment for the city's prosperous development.

At the conference, five projects – covering big data, artificial intelligence, cross-border e-commerce, high-end manufacturing – were signed and they will settle in the area.