It also has a range of imported product exhibition zones displaying wine, milk powder, food and health products. The zone's logistics facilities have been improved in recent years to fuel growth in incoming and outgoing freight. The volume reached 220 million tons last year, said Yu.

Yu Dong, head of the Yantai Municipal Bureau of Commerce, said the 230 sq km high-tech zone for new industries will be home to national marine industries, while a coastal business zone in the new area will mainly accommodate headquarters of major corporations, as well as tourism and exhibition industries.

The new area has attracted investment in real estate, tourism, marine biopharmaceuticals and logistics from more than 20 countries and regions. Among the projects, 560 each have a total investment of more than100 million yuan ($16 million).

The new area also has a variety of flourishing marine companies and world-recognized research centers including CIMC Raffles Marine Engineering Co, Shandong Oriental Ocean Sci-tech Co, Yantai Jereh Oillfield Services Group and Shandong International Biological Park.

As a national research center for the development of coastal regions, Shandong International Biological Park, there has joined the efforts of the Chinese Academy of Science, the Shandong provincial government and the Yantai municipal government. The park is also home to many projects from universities around the world.

The new area also has famed Yantai University and the Naval Aeronautical Engineering Academy.

According to Zhang Dan, deputy-head of the new area's committee office, three landmarks - the Yantai Marine Property Rights Transaction Center, Marine Economy Headquarter Base and Marine Entrepreneur Services Center - will soon enter the final phase of construction.

At an investment of more than 50 billion yuan, residential and commercial complex Longhu Lake Ecological city, is also under construction.

Its first phase, a high-end residential area on renowned tourism spot Yangma Island, is finished with homes now on sale.

Zhang said that by 2020, the high-tech marine new area "will become the country's most important economic area highlighting a strong marine economy, high-tech innovation and a well-developed eco city".