As a heavyweight headquarters base that focuses on research and development, the Tayho International Intellectual Innovation Center in the Bajiaowan New Area in Yantai city of Shandong province started construction on April 16, which is intended to add strong growth momentum to the region's industrial agglomeration and headquarters economy.

The project covers a total construction area of 113,000 square meters and has a planned investment of 1 billion yuan ($145.34 million). Positioned as a leading headquarters base with local characteristics, the center will be a comprehensive R&D complex integrating innovation, entrepreneurship, training and administration.

Jiang Cheng, Party secretary of Yantai, announced the launch of the project, and Zheng Deyan, mayor and deputy Party secretary of Yantai, delivered a speech during the launch ceremony.

Yantai is revving up efforts to build a green, low-carbon and high-quality development pilot zone in Shandong, bolstering the agglomeration of manufacturing with 16 major industrial chains and marching toward the goal of achieving a GDP of more than 1 trillion yuan.

Tayho specializes in the R&D and production of high-tech fibers and is a key manufacturer of spandex, aramid fiber and para-aramid fiber in China. In 2022, Tayho was rated as a demonstration enterprise for scientific and technological reform by the State Council.

The Tayho International Innovation and Intelligence Center is a key project that supports the company's commitment to innovation and entrepreneurship. Based on the innovative industrial platform of Yaitai's Huangbohai New Area, the project will be constructed with international standards and a good corporate image. The innovation sub-center plans to create a world-class R&D platform with a central research institute, a R&D center for the Ningxia Hui autonomous region and joint laboratories, and the entrepreneurship sub-center is a growth pole for incubating leading companies.

While consolidating the advantages in the high-performance fiber industry, Tayho has also developed six strategic emerging industries: smart wear, green manufacturing, biomaterials, information and communication, new energy vehicles and green chemicals, which helps the company blaze a new trial for high-quality development.

The Tayho International Innovation and Intelligence Center is expected to attract projects and enterprises in the six emerging sectors, create a shared platform for industry, academia and research and build a first-class new material R&D base with technological innovation, resources, talents and vitality.

The center is also expected to generate an annual output value of 30 billion yuan after completion. It aims to cultivate more than 500 technological and industrial talents in the field of new materials within three years, break through more than 20 new product technologies, obtain more than 200 independent intellectual property rights, form a batch of world-leading technological products and nurture 10 high-tech enterprises with good growth potential.

The goal of the project is to lure more high-quality projects, talents and resources to the Huangbohai New Area.