Photo taken on July 30, 2018 in Weihai, East China's Shandong province. [Photo/VCG]

Assisted by the platform offered by the Conference of Great Business Partners being held in Jinan, the capital city of East China's Shandong province, on Saturday, Weihai, a coastal city in the province, has signed 58 agreements with top global companies.

Covering high-end manufacturing, electronic information, tourism, healthcare, new materials, green food, modern logistics, international education and infrastructure, the contracts involve a total investment of 165 billion yuan ($23.97 billion).

Bounded on three sides by the Yellow Sea, Weihai looks out to the Liaodong Peninsula in the north and the Korean Peninsula in the east. There are 185 islands and beaches scattered along its coastline. It is also home to a great number of mountains, bays and springs.

"In addition to a picturesque and livable environment, the coastline in Weihai has high-end industrial parks and scientific research and development organizations, offering a premium environment for entrepreneurship," Zhang Haibo, the city's mayor, told an investment promotion conference in Jinan on Friday.

He said Weihai welcomes friends from home and abroad to live and develop business in the city.