Yao Jun, chairman of Overseas Chinese Town Holdings Company [Photo/dzwww.com]

Yao Jun, chairman of Overseas Chinese Town Holdings Company (OCT), delivered a video speech at the opening ceremony of the Second Conference of Great Business Partners and the International Summit on Innovation and Development for Young Entrepreneurs on June 30.

Yao said that OCT will invest at least 150 billion yuan ($21.24 billion) into cooperation with Shandong province in areas such as cultural tourism, rural revitalization, and the operation of science and technology industrial parks.

"We are very optimistic about Shandong due to its strong development prospects and business environment," said Yao.

Yao said that OCT has invested in large projects in Jinan, Qingdao, Yantai, Zibo, Jining, Linyi, and several other Shandong cities. It is currently undertaking projects in three cities and plans to carry out more in the near future.

The Shandong provincial government signed a strategic agreement with OCT to expand cooperation in a variety of areas on June 19.

OCT is a large tourism enterprise directly managed by the state-owned Assets Supervision and Administration Commission of the State Council.

According to Yao, the company receives more that 150 million tourists a year. It has been ranked among the top four theme park enterprises in the world and the first in Asia for the past six years.