A delegation from Yantai is hosting a trade and investment promotion in Hong Kong from Sunday to Wednesday. They are seeking investors for 10 projects in sectors such as marine engineering, high-end services, advanced manufacturing and e-commerce.

"The new round of development brought by the transformation of the economic structure creates more opportunities for cooperation between Hong Kong and Yantai," said Yang Li, the vice mayor of Yantai.

Hong Kong has been the largest source of overseas investment for Yantai, according to statistics from the city commerce bureau. By the end of May, 3,253 Hong Kong-invested projects had been approved by the Yantai authorities, bringing in $14.9 billion in contracted investment.