Huang-Bohai New Area in the coastal city of Yantai, East China's Shandong province held an investment promotion conference on May 13, aiming to attract more investment in aerospace, aviation, and marine industries in its intelligent manufacturing park.

The intelligent equipment and manufacturing park in Huang-Bohai New Area has a planning area of about 100 square kilometers, and will focus on cultivating projects related to aerospace, aviation, and marine industries, as well as build itself into a highland for intelligent manufacturing.

As one of the four provincial-level new areas, the Huang-Bohai New Area boasts comparative advantages in developing aerospace, aviation, and marine industries, such as policy advantages, high-level talents, and high-end technologies. It is also an important step for Yantai to integrate into the national strategies, and upgrade the city's competitiveness of its industrial chains.

Yantai now houses a number of marine engineering equipment leading enterprises, such as CIMC Raffles, Daewoo Shipbuilding and Marine Engineering, Jinglu Shipyard, and Jutao Offshore Engineering Heavy Industries. It has also built an aerospace industrial cluster in Haiyang, a county-level city in Yantai, and a number of universities and institutions related to aerospace, aviation, and marine industries have gathered in Yantai, offering solid industrial foundations for the development of such industries.

Local authorities said that relying on the historic opportunities created by the Huang-Bohai New Area, Yantai will beef up efforts to attract more investment, high-level talents, and scientific research institutions in the aerospace, aviation, and marine industries. It is expected that the Huang-Bohai New Area will be home to more than 20 leading enterprises in such fields, and the industrial output value of such industries will exceed 50 billion yuan ($7.38 billion) by the end of the 14th Five-Year Plan (2021-25) period.