The Yantai Economic & Technological Development Area announced on Dec 11 that it is planning to build 10 new generation characteristic manufacturing industrial parks.

These parks, which represent a combined investment of more than 120 billion yuan ($18.85 billion), will cover fields such as high-end synthetic materials, 8K ultra HD innovative application, high-end equipment design, and photoelectric sensor.

After completion, the park is expected to have an output value of more than 300 billion yuan.

During the 14th Five-Year Plan period (2021-25), the area will make full use of the 10 industrial parks to promote the development of industrial chains and clusters. More efforts will be made to explore a new development mode for the parks.

The area will also make efforts to create modern industrial parks featuring low-carbon offices, green buildings, multi-storey factories.

In addition, more high-quality resources will be gathered to attract more investment and talent.