On May 27, the People's Government of Yantai held the Yantai-Greater Bay Area Industrial Collaborative Development Exchange Conference in Shenzhen, relying on the activity platform of Hong Kong-Macao Shandong Cooperation Week. The Conference was attended by over 170 executives from central enterprises, Top 500 Chinese Enterprises, business associations, and industry alliances, as well as experts and scholars from universities and research institutes. A total of 15 projects were signed during the event, with a total investment of 16.829 billion yuan, involving key industries such as petrochemicals and new chemical materials.

In his keynote speech, Zheng Deyan, Deputy Secretary of the Yantai Municipal Party Committee and Mayor, clearly stated that Yantai aims to build a city with advanced manufacturing strength and global influence. He also urged Yantai to create four high-quality and characteristic industrial cities: a world-class green petrochemical city, a Chinese marine engineering equipment city, a city of one million automobile production, and an international life science city. These statements have attracted great attention from participants from Guangdong, Hong Kong, and Macao.

Yantai is a city known for its industrial strength, and advanced manufacturing is the foundation of its establishment and development. In 2022, Yantai's regional GDP reached 951.6 billion yuan, up 5.1%, ranking first in Shandong and 26th among the cities in China in terms of both growth rate and number. This year, it will strive to become one of the trillion-yuan-level cities in GDP. Currently, Yantai is focusing on "9+N" manufacturing clusters and promoting the "chain chief system" in 16 key industrial chains. Yantai plans to form two industrial cluster arrays, each with a scale of 300 billion yuan and 200 billion yuan respectively, and four with a scale of 100 billion yuan within three years. It aims to create another industrial cluster on a large scale within five years.