A worker carves a gold ornament in Zhaoyuan. As the gold capital in China, Zhaoyuan now realizes that it should plan the resource carefully and diversify gold-related industries. [Zhang Yanhui/Xinhua]

The government will boost structural adjustment during 2011-2015. It will conduct extensive geological prospecting and extend industrial chain .

By the end of 2015, the prime operating revenue of the gold industry is expected to exceed 200 billion yuan ($3.24 billion) and the profit will reach 30 billion yuan.

To stimulate the development of the gold industry, Yantai government has rolled out multiple favorable policies on gold mining, smelting and gold sales to increase business profits. The Yantai government has also developed a comprehensive support system related to planning, taxation, land use and charge policies.

Yantai gives priority to the development of large gold companies and tries to combine small companies. There are 86 larg-scale gold companies, including Shandong Gold Group and Shandong Zhaojin Group, whose sales revenues exceed 40 billion yuan each, as well as Zhongkuang Group and Yantai Humon Group, whose sales revenues top 10 billion yuan. Among them, Shandong Zhaojin Group, Shandong Gold Group and Yantai Humon Group have been listed.

After over 40 years of development, Yantai's gold enterprises have improved their equipment, management and technologies of exploration, design, mining, selection, refining and processing. A group of skilled professionals and hundreds of technological achievements contribute to the growth of Yantai.

Twenty-one projects of Yantai's gold companies have received “Science and Technology Award from the China Gold Association”, the highest award in China's gold industry. The number accounts for one third of the country’s total.

Major development and cooperation fields in Yantai's gold industry:

Machines and equipment

Yantai will encourage companies to develop efficient and energy-saving mining equipment, introduce new advanced equipment from abroad to support deep gold mining.

Industrial gold

Yantai will expand gold application in such industries as electronics, bio-medicine and decoration; develop industrial gold products such as nano-gold materials and catalyst; and strive to build a national gold industrial base within 5-10 years.

Gold jewelries

Yantai will aim to attract more investment and technology from domestic and overseas jewelry processing and sales enterprises to build the largest gold and silver jewelry processing and trade center in northern China.

Gold-themed tourism

With the development of Zhaoyuan Gold Museum, Gold Mining Town and Gold-themed Street, Yantai plans to develop gold culture tourism and make more tourists to “appreciate, play with and buy gold” in Yanyai.