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Yantai to promote growth driver shift

2018/2/24 14:01:27   source:chinadaily.com.cn

The Shift of Growth Drivers from Old to New Conference was held in East China's Shandong province on Feb 22.

By focusing on new technologies, new industries, new business forms and new models, the Shandong government aims to promote industrial restructuring and upgrading, strengthen the construction of innovative and entrepreneurial carriers and enhance the momentum of driver- shifting.

Yantai, a coastal city of East Shandong province, is a trial city in the project and will play an important role in promoting industrial upgrading.

Zhang Yongxia, mayor of Yantai, stated at the conference that the city is in a crucial stage of economic development. Top priorities in accelerating this development will be constructing pillar industries and increasing the city’s overall competitiveness.

Zhang also said Yantai plans to set up 10 working groups to promote 192 key projects with an investment of 800 billion yuan ($119.4 billion).

The city will also build certain new industries into major drivers of economic growth, namely information technology, food processing, non-ferrous metals and precious metals, high-end chemical materials, equipment manufacturing, automobiles, and medical and health care.

By 2020, Yantai aims to be a city of advanced manufacturing clusters. By 2022, the added value of its strategic emerging industries will be up to 20 percent of its overall added value.

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Sponsor:Information Office of Shandong Provincial People’s Government