Yantai cooperates with Shimao Group in urban development

Updated : 2020-07-02 (chindaily.com.cn)

Yantai cooperates with Shimao Group in urban development

The Party secretary of Yantai converses with Xu Rongmao, chairman of Shimao Group, online during the conference on June 30. [Photo/dzwww.com]

The Second Conference of Great Business Partners and the International Summit on Innovation and Development for Youth Entrepreneurs opened on June 30 via online channels across Shandong’s 16 cities.The event involves thousands of participants and is an effort by Shandong to further open up and bolster its high-quality development.

Yantai, a coastal city in eastern China’s Shandong province, signed an agreement online with Hong Kong real estate developer Shimao Group at the Yantai sub-venue.

Shimao Group will invest 15 billion yuan ($2.12 billion) in the construction of Yantai’s urban areas to help improve the city’s image and enhance the urban living environment.

Shimao Group is a large international investment enterprise. Its business covers the fields of real estate, hotels, commerce, finance, education, theme parks, and property management.

It has built nine famous buildings in Shanghai, Guangzhou, Shenzhen, and other cities, helping promote the construction of high-quality urban areas.