Yantai sets ambitious goals for 2024

Yantai, a coastal city in East China's Shandong province, saw its GDP exceed 1 trillion yuan ($139 billion) last year, meaning that Shandong is now home to three cities in the 1-trillion-yuan GDP club, according to the government work report to the second session of the 14th Shandong Provincial People's Congress on Jan 22.

Yantai, a coastal city in East China's Shandong province, saw its GDP exceed 1 trillion yuan in 2023. [Photo/WeChat account: eeo-com-cn]

Yantai, located in the northeast of the Shandong Peninsula in China, is one of the first 14 coastal open cities in China and boasts a sound business environment. For many years, it has served as one of the three major economic hubs in Shandong.

In recent years, Yantai has made strong efforts to develop local industries and deepen reform and opening-up, which was the driving force behind the city's rising GDP.

The government work report proposed supporting the construction of the Dingziwan International Green Low-Carbon Open Cooperation Zone in Yantai. Dingziwan is a new energy gathering area, characterized by advantages in green industries such as nuclear power, offshore wind power, and photovoltaics.

Jiang Cheng, Party secretary of Yantai, said that the approval of the Dingziwan International Green Low-Carbon Open Cooperation Zone will help Yantai expand its green energy industry and use more green energy to support local economic development.

Additionally, the provincial government's work report also proposed building the Changdao "Blue Granary" Marine Economic Development Zone, supporting Jinan, Qingdao, and Yantai in creating future industrial leading areas, and promoting the full operation of major industrial projects such as the Yulong Island Refining and Chemical, and Wanhua New Materials Low-Carbon Industrial Park this year.

"These proposals will lead to many great opportunities for Yantai's long-term development," said Jiang during the review of the government work report. He stated that such policies will be crucial for Yantai's continued improvement.