Yantai will play a vital role in promoting integrated development of the Jiaodong Economic Circle, said Zhang Shuping, Party secretary of Yantai at a promotional conference in Beijing on Dec 8.

The conference jointly hosted by the cities of Qingdao, Yantai, Weifang, Weihai and Rizhao aims to deepen openness and coordination development of Jiaodong Economic Circle.

A 100 billion yuan ($15.27 billion) investment fund for infrastructure was unveiled during the event. The money will be spent to connect the cities' infrastructure, enhance urban functions, upgrade industry and cultivate new economic growth.

According to Zhang, the coastal city of Yantai will give full play to the advantages of emerging industrial clusters, such as advanced structural materials and biomedicine to build innovation demonstration areas and Jiaodong high-end industrial development clusters.

In addition, the city will make full use of its marine resources to promote the transformation of marine scientific and technological achievements and build a Jiaodong marine economic demonstration circle.

The coastline of Jiaodong Economic Circle accounts for nearly one-sixth of the whole country. Cities of the area enjoy close connection in tourism, and culture.

Yantai will take the opportunity of hosting 2021 Shandong Tourism Development Conference to promote the city’s coastline landscape from Yangma Island to Sanxian Island, build cultural tourism projects and develop into a domestic first-class coastal leisure tourism destination.

Yantai will strengthen cooperation with the cities of Qingdao, Weifang, Weihai and Rizhao in economy, infrastructure construction, culture and tourism to seek high quality development.

The Jiaodong Economic Circle in Shandong province, which includes the cities of Qingdao, Yantai, Weifang, Weihai and Rizhao, has a total area of 52,300 square kilometers and a population of more than 32 million. Its GDP in 2019 was 3 trillion yuan.