Yantai progresses in high-tech industry

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.

Bi Qiujun, deputy head of the Yantai Science and Technology Bureau, said that the city has carried out 130 scientific projects and made breakthroughs in key technologies. For instance, Blue Whale 1 — the ultra-deep-water semisubmersible drilling rig built by the nation's largest semisubmersible platform manufacturer, China Yantai CIMC Raffles Offshore — conducted successful tests in the South China Sea in May, 2017. Blue Whale 1 played a significant role in the nation's first extraction of combustible ice, a particular kind of natural gas hydrate formed under strong pressure and low temperatures and usually found in the seabed or tundra areas. It is regarded as a clean energy option with high energy density and huge reserves.

At a National Science and Technology Award Conference held in January, 2017, three scientific and technological achievements with involvement of Yantai enterprises received the honor of the National Science and Technology Advance Second Prize, according to Bi.

Bi added that so far 851 middle and small-sized technology enterprises have registered in Yantai, generating contract value of more than 6 billion yuan ($932 million). He noted that in the first three seasons of 2017 the city's high-tech industries generated revenue of 522.7 billion yuan, ranking second among all cities in Shandong province.