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City with a medal-winning investment environment
  

City has a medal-winning investment environment

The eastern shore of Yantai. The city is a regional transport hub, an important industrial city in the Bohai-rim economic zone and a gateway to Northeast Asia. Lan Peixi / For China Daily
 

City has a medal-winning investment environment

New energy, such as wind power, is an important emerging sector in Yantai. Provided to China Daily

City has a medal-winning investment environment

Yantai International Exhibition Center, where the city hosts many international events. Yu Peihua / For China Daily

City has a medal-winning investment environment

The spectacular scenery of Kunlun Mountain in Yantai. Si Jiguang / For China Daily

City has a medal-winning investment environment

Visitors pick grapes in a local vineyard. Ju Chuanchuang / China Daily


Yantai, well-known for its natural beauty, food and wine, also has a growing marine economy

Located on the east coast of the Shandong Peninsula and bordered by Bohai Bay and the Yellow Sea, Yantai is a regional transport hub, an important industrial city in the Bohai-rim economic zone and a gateway to Northeast Asia.

Yantai`s opening-up can be traced back to 1861 when the Qing Dynasty (1644-1911) opened it up to the world. At that time, Yantai was home to the consulates of 17 different countries.

The city was then listed among the first batch of 14 cities designated by China as part of the country`s reform and opening-up process in 1984.

Covering 13,700 square kilometers, Yantai is now the administrative center for four city districts and seven counties, which are home to around 7 million people.

The city`s gross domestic product was 435.8 billion yuan ($67 billion) in 2010, ranking it second among Shandong`s 17 cities.

The city has one state-class economic and technology development zone, one bonded port area and one high-tech industrial zone.

The following are Yantai`s main achievements and targets:

National Civilized City

In 2004, China Central Television recognized Yantai as the most "Charming City of China" and it was declared the "National Civilized City" in 2005 and 2009.

China`s Excellent City for Leisure

Its warm climate, natural beauty and cultural heritage have also secured Yantai the title of "China`s Excellent City for Leisure".

There are many myths and legends depicting Yantai as an earthly paradise frequently visited by gods and goddesses, the legacy of these tales can still be seen in Yantai, in such features as the Penglai Pavilion, widely known as a "fairyland" and the Kunyu Mountain, where Taoism originated.

In recent years, Yantai`s charm has been enhanced by the development of hot springs, forest parks, high-quality golf courses and holiday facilities.

China`s Gold Medal City for Investment Environment

Thanks to its strong economic strength, the World Bank acknowledged Yantai as one of China`s Gold Medal Cities in terms of its investment environment in 2006.

Currently, more than 50 Fortune 500 and multinational enterprises have established facilities in Yantai, contributing to its competitiveness in automobiles, computers, cell phones, wines, gold, ship-building and new materials.

Over the last five years, the Yantai government has approved 2,121 foreign-backed projects and the city has established 112 projects overseas with a total investment of $450 million.

These brought the city $43.78 billion worth of foreign trade in 2010 alone.

International Wine City

As one of the world`s top seven coastal grape-growing areas, Yantai is the birthplace of China`s wine industry. It is also the largest wine production base in China with nearly half of the nation`s total wine output produced here.

The International Office of Vine and Wine (OIV) acknowledged Yantai as an International Wine City in 1987, making it the only Asian city to have this honor.

China`s City for Food

Yantai`s apples, pears, cherries and grapes are popular both at home and abroad.

The coastal city is also a fishery rich in sea cucumbers, shrimps and abalone.

Yantai is now a set venue for the International Vegetable and Fruit Fair jointly sponsored by Asia-Pacific Economic Cooperation (APEC) and related Chinese authorities.

A major transportation hub in North China

Currently, Yantai boasts 10 harbors and has direct routes to more than 100 ports in some 70 different countries and regions.

With its maritime advantages, Yantai has launched a cargo service to Los Angeles and Amsterdam.

Yantai has flights to 30 domestic and international destinations.

Marine economy

Blessed with 90 kilometers of coastline, Yantai port is bustling as its throughput in 2010 surpassed 200 million tons and the near-port industries generated 500 billion yuan of revenue.

Currently, Yantai is focusing on enhancing halobios, maritime equipment manufacturing and ocean energy and minerals.

The city is also looking to modernize its four pillar industries: fish, ocean-featured tourism, maritime logistics and near-port processing and manufacturing.

Yantai is also seeking to develop three high-end emerging industries: environmental protection, ocean-featured services and the comprehensive utilization of seawater.

The city aims to generate 220 billion yuan worth of output from its marine economy by 2015, an annual increase of 15 percent.

By 2020, Yantai pledges to be one of China`s leading marine economies, a major transportation hub connecting China, Japan and Korea, an international-class tourism city and an eco-friendly coastal city.

 
Date:2011-6-30 8:43:47     
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