A total of 17 projects worth 12.99 billion yuan ($1.84 billion) from Weihai city will be promoted at the Second Conference of Great Business Partners and International Summit on Innovation and Development for Youth Entrepreneurs.

The event will take place online on June 30, with main venue in Jinan, and sub-venues in other 15 cities of Shandong. 

According to the Weihai authorities, the projects cover major infrastructure, the marine economy, high-end equipment, new materials, healthcare and the next-generation IT industry, all important to the city's high-quality development and efforts to replace old growth drivers with new ones.

The city will also sign five projects at the event, which will receive a total investment of 1.63 billion yuan.

The Weihai sub-venue will host a series of promotional activities to attract investment and talent, local officials said. The city's districts, counties and industrial parks will also participate in the event to facilitate cooperation.

According to Shandong officials, this is the first high-level event of the year aimed at attracting investment to Shandong by facilitating business and investment, promoting cooperation with Hong Kong and Macao, and expanding opening-up measures.