Chinese winery Yantai Changyu Wine Co bought an 80 percent stake in the Clare Valley's award-winning Kilikanoon Estate in Australia for AUD $20.6 million ($16.4 million).
Yantai's foreign trade volume rose by 6.2 percent year on year to 307 billion yuan in 2017, accounting for 17.2 percent of the total volume in Shandong province
The First Shandong Cultural Consumption Season generated 420 million yuan ($65.4 million) in the sales of cultural products and services.
The Yantai municipal government has pledged to increase the total value of its medical and health sector to 80 billion yuan.
Yantai has witnessed considerable high-tech progress in the past year, an official said at a press conference organized by the Information Office of the Yantai People's Government conference on Jan 16.
Yantai, Shandon province has pledged to attract more than 5,000 high-caliber talents in 2018.