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Yantai Economic & Technological Development Area

2018-09-12 00:31

Located on the coast of the Yellow Sea in Shandong Peninsula, Yantai Economic and Technological Development Zone (hereinafter referred to as “the Zone”) was founded in October, 1984 with the approval of the State Council. Its construction began in 1985. The Zone is among the first 14 national development zones in China. It has 360km² of land area, 501.5 km² of sea area, and 61.3km of coastline. It has four sub-districts, one town, and 206 villages and communities under its jurisdiction, and 882 basic-level party organizations. The Zone has a total population of 500 thousand. The Zone has been rated as a national demonstration area meeting the standard of ISO14000, China industrial park environmental management demonstration area, national circular economy pilot area, national new-type industrial demonstration base, national intellectual property pilot area, and UN green industrial area. In 2017, it ranked  8th in the comprehensive development level examination and evaluation of national development zones released by the Ministry of Commerce.

The Zone has shaped an industrial development pattern with the secondary industry as leading force, featuring the integration of the secondary industry and the tertiary industry. The Zone is home to 49 thousand market players, 2,800-plus industrial enterprises, one enterprise with output value exceeding RMB 100 billion, six enterprises with output value exceeding RMB 10 billion, and 24 enterprises with output value exceeding RMB 1 billion, eight companies listed on the main board, and 30 enterprises listed on NEEQ. It has shaped electronic information and machine manufacturing as two leading industries, and is nurturing chemical new materials and biological medicine as competitive industries, and big data, intelligent manufacturing, and energy conservation and environment protection as industries with potential. In the Zone, the modern service industry, with a high-end international five-star hotel group, business complex, and financial service as features, is showing great momentum.

The Zone has brought in 2,100-plus foreign funded projects, involving investment more than $25 billion. Among which, there are 44 projects worth more than $100 million and 80 projects invested by Fortune Global 500 enterprises. The Zone has secured total contractual foreign investment $12.39 billion, including $7.66 billion paid-in foreign investment. Its total volume of foreign trade accounts for half of that of Yantai, and one tenth of that of Shandong Province. In terms of foreign trade export, Foxconn, LGEYT, and LG Display rank the first, third, and fourth in the province. Within the Zone, China-Russia Tomck and Wanhua BorsodChem national overseas cooperation areas have been established, with 83 foreign investment projects approved, involving $950 million.

The Zone is home to 112 hi-tech enterprises, and 109 provincial-level technology-based middle, small and medium enterprises. The production value of hi-tech industries exceeding designated size accounts for two thirds of the total production value of all industries exceeding designated size in the Zone. Within the Zone, there are 181 innovation platforms above municipal level, including 20 national ones. The Zone has produced 113 technological achievements that are first of their kind globally or domestically, or are global or home leaders, 11 technological products with the highest market share in the world, and 114 products ranking in the global or national top five. The Zone has brought in 58 experts via “The Recruitment Program of Global Experts”, and 44 Mount Tai Scholars.

The Zone is equipped with an all-dimensional, integrated, convenient traffic system. The Shenyang-Haikou Expressway, Rongcheng-Wuhai Expressway, and National Highway 206 pass through the Zone. The Qingdao-Jinan Railway, Lancun-Yantai Railway, Delongyan Railway, Qingdao-Yantai-Weihai-Rongcheng Inter-city Railway, and Yantai-Dalian Railway Ferry exist as new economic routes in Northeast Asia. The Zone boasts an advantaged three-dimensional logistics channel. Yantai International Airport, Yantai Port, Yantai Bonded Port Area, and Bohai Rim High-speed Rail Station, which is under planning, are all within the Zone. It has independent customs and commodity inspection authorities, where all relevant business can be handled. The Zone has water, power, gas, heating, roads, communication, and other infrastructure, as well as various financial institutions and agencies, which offer efficient services, such as project negotiation and approval, and accompanied services.




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