The private sector is emerging as an engine for green, low-carbon, and high-quality development in Yantai.

By the end of January 2025, the total number of private market entities in Yantai had reached 1.05 million, accounting for 98 percent of the total market entities, according to data released by the Yantai Municipal Development and Reform Commission.

"In our efforts to better serve private enterprises, we have implemented a series of policy measures to encourage private projects and support the development of private enterprises," said Wang Songjie, director of the Yantai Municipal Development and Reform Commission.

Yantai is committed to helping private enterprises cultivate new quality productive forces, addressing a project's challenges, relaxing restrictions on private capital investments, and meeting the financing needs of small and micro-enterprises.

This year, Yantai will introduce measures to promote the high-quality development of the private sector, cultivate a group of leading private enterprises, and establish databases on key private investment projects and on key private enterprises across the city.