A total of 312 high-quality projects will be promoted at the Second Conference of Great Business Partners and International Summit on Innovation and Development for Youth Entrepreneurs.

The event will open in Shandong on June 30 on online channels.

According to local authorities, the 312 projects cover major infrastructure, new infrastructure, the province's "top 10" industries, technological upgrading, and state-owned enterprises reform, which are vital to the province's efforts in replacing old growth drivers with new ones and promoting high-quality development.

Nearly 70 percent of the projects are related to emerging industries, which will promote innovation-driven development and foster new economic drivers in Shandong.

There are 56 major infrastructure and new infrastructure projects, including 5G networks, data centers, artificial intelligence and industrial internet platforms, that will inject new impetus into the digital economy and accelerate the province's push for industrial upgrading.

Shandong province is taking a significant role in supporting the nation's economic upgrade. The region became the first comprehensive pilot zone in China to replace old economic growth drivers with new ones.

As the first high-level event of the year aimed at attracting investment, the event is designed to facilitate business and investment, promote cooperation with Hong Kong and Macao, and expand opening-up efforts, local officials said.

The province's 16 cities will also host a series of business promotion activities during the event to attract business and talents.