Future-oriented industrial parks to sharpen area's competitive edge

YANTAI, China, Oct. 19, 2022 /PRNewswire/ -- The authorities of the Yantai Huang-bohai Sea New Area in East China's Shandong Province have promised support in policies, land use and top-quality materials in the construction of 20 industrial parks of new-generation manufacturing in the area.

The 20 industrial parks, unveiled in two groups at the end of last year and in the second half of this year, respectively, cover many emerging businesses including semi-conductor, high-definition display, high-end alloy, special fiber, strategic equipment, bio-medicines and smart connectivity, with total investment of 200 billion yuan ($27.8 billion).

When completed, the projects are expected to generate annual output value of 300 billion yuan and serve as strategic support for the area's high-quality development.

The planning of the industrial parks is a strategic deployment that looks to future development to create industrial advantages. It is also a practical measure to support local companies to grow bigger and stronger, and promote the extension, supplement and improvement of industrial chains.

All the industrial parks have started attracting companies to settle in. According to plans, nine industrial parks will have started construction this year, and all the others will start construction next year. The parks will combine functions of research, development, production, as well as offices, with the help of multi-storey factories, and the construction will take into consideration the overall quality of the city in order to create "new-generation industrial parks that do not look like industrial parks" which means they must be harmoniously integrated with their surrounding environment.

The new area will integrate multiple mechanisms such as the corporate service representatives, the industrial chain principal system and leading companies nurturing program.

To improve efficiency, the authorities of the new area has been adhering to the concept of creating industrial clusters, mobilizing resources and factors to break the bottlenecks such as land use limit, environmental assessment and energy consumption evaluation.

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