Development advantage

Yantai is located in the east of Shandong Peninsula, which faces Japan and South Korea across the sea. Its land area is 13,900 square kilometers, with the permanent resident population of 7.14 million. In 2020, the GDP of the city was RMB 781.643 billion, increased by 3.6%, with the import & export trade volume reaching RMB 322.03 billion, increased by 10.8%, and the paid-in external investment reaching RMB 171.88 billion, increased by 24.1%. There are 200 projects with an introduced total investment over RMB 1 billion and the total contracted investment was RMB 482.93 billion. There were 129 introduced projects of Fortune 500 Companies, Top 500 enterprises of China and Top 500 private enterprises, with the total contracted investment hitting RMB 281.24 billion. Foreign capital actually used was USD 2.28 billion, increased by 17.6%.

Yantai is one of first batch of 14 coastal open cities in China, important node city of 21^st-Century Maritime Silk Road, one of “three cores” of Shandong Comprehensive Experiment Zone for Replacement of Traditional Driving Force with New Ones, one of “three zones” of China (Shandong) Pilot Free Trade Zone, one of “three parks” of Jinan-Qingdao-Yantai International Investment Industrial Parks, possessing good resource endowment and broad development space. Entering the new era, Yantai always keeps President Xi’s inculcation of “taking the lead in the forefront and making creation in a comprehensive manor” in mind, implements the instruction guideline by Premier Li Keqiang during his visit in Shandong and Yantai. Following the requirement for the replacement of traditional driving force with new ones put forward by the provincial committee and government, it boosts the development of a strong city of manufacturing industry, big city of marine economy, entrepreneurship -friendly, habitable and tourism-friendly city and modern international costal city.

 “Yantai opportunity” is an opportunity for “connection in all directions”. The city is becoming a transportation hub for connecting China and the world. Yantai is located in the west of Japan and South Korea, and the south of Liaodong Peninsula, which is the starting point of ancient oriental Maritime Silk Road. It is located at the core of circum-Bohai-sea region, which is always a strategic area for domestic and foreign enterprises’ layout in China and international recognition. Annual passenger throughput of Yantai Penglai International Airport is over 10 million person-times and the construction of airport Phase II has launched. Weifang-Yantai High-speed Railway in circum-Bohai-sea region is under construction. After the completion, it will only take two hours from Yantai to Jinan and three from Yantai to Beijing. The urban rail transport is actively pushed forward, and it will enter an era of “metro” in the future. Bohai Sea-Crossing Passage Project has been going through the stage of expert evaluation organized by National Development and Reform Commission. After these major infrastructures are put into use, Yantai will become an important transportation hub in eastern costal China, which means that investing in Yantai is to invest the future.

“Yantai opportunity” is an opportunity of “innovation & creation”. This city is becoming a highland for industrial rise and a favored place for technology flow. Yantai possesses a solid industrial base and a complete range of industries, fostering 5 RMB 100 billion-level industrial clusters (electronic information, food processing, high-end chemistry and gold smelting). Currently, Yantai is boosting the replacement of traditional driving force with new ones and vigorously developing a new generation of eight major strategic emerging industries including information technology, intelligent manufacturing, new energy, new material, biotechnology and comprehensive health, marine economy, aeronautics and space, digital creative industry, etc. Among the selection of the first batch of 66 national strategic emerging industrial clusters in China, 2 industry clusters (biological medicine and advanced structural material clusters) in Yantai have been selected. 4 industrial clusters (new material, high-end chemistry, biological medicine and marine ranching) have been selected as the first batch of provincial “form of wild goose queue” industrial cluster base. Yantai is striving to develop the marine economy, implementing “one-hundred-cage plan” for the marine ranching and building the marine ranching of the maximum scale in Asia, highest level of equipment and best comprehensive benefit. Yantai seizes the opportunity of sea launched rockets, plans the layout of “China Dongfang Spacecraft Launch Port” and cultivates three industrial clusters at ten billion level including rocket manufacturing, satellite manufacturing and satellite application. Yantai is taking the opportunity of “new infrastructure” window phase and signs strategic cooperation protocol with five major communication operators to spare no effort to support the infrastructure construction and technology promotion & application including 5G, industrial internet, artificial intelligence and Internet of Things, aiming to build a 5G network demonstration zone in Shandong Province. Yantai is committed to the implementation of innovation-driven strategy, establishes the special fund of science & technology innovation of RMB 1 billion, introduces and establishes a batch of key innovation platforms including Shandong Laboratory for Advanced Material and Green Manufacturing of Chinese Academy of Sciences, etc. There are 514 innovation platforms above the provincial level all over the city. Yantai has launched and constructed Yantai (International) Technology Market and hosted activities with important influence including International Technology Exchange, World Industrial Design Conference and others successively to fully improve the internationalization level of innovation & creation.

“Yantai opportunity” is an opportunity of “opening up & collaboration”. Yantai is building a “bridgehead” of the new highland for the opening up in Shandong Province. Economic extroversion of Yantai is relatively high, invested by 105 Top 500 Companies. Its annual import & export trade is over RMB 300 billion, which is rated as a gold medal city of investment environment in China. Yantai is actively building the forward position for opening up of “four parks and two zones”. “Four parks” refer to the International Investment Industrial Park, China-Korea (Yantai) Industrial Park, China-Japan Industrial Park, China-Germany New Materials Industrial Park. Among them, International Investment Industrial Park will scroll to launch 30 square kilometers of cleared ground for attracting investment in the world. China-Korea (Yantai) Industrial Park is one of three only national China-Korea Industrial Parks in China. “Two zones” refers to Yantai area of China (Shandong) Pilot Free Trade Zone and Yantai Comprehensive Bonded Zone. The construction of the free trade zone is another major opportunity for opening up. A batch of system innovation results including commencement as soon as land use approval, transnational approval and the facilitation of international balance of payment for capital account have been pushed out, and more than 12,400 main market players have been newly opened, becoming the most innovative and vigorous area in Yantai. In April 2020, the State Council approved the conversion from Yantai Bonded Port Area to Comprehensive bonded area, which will bring new opportunities for Yantai’s opening up.

 “Yantai opportunity” is an opportunity of “city upgrading”. A batch of modern cities groups is rising sharply in Yantai. Yantai is surrounded by mountains and seas, with beautiful scenery and good ecological environment. Its air quality has reached the national secondary standard, and every year more than 80 million tourists visit Yantai. Yantai is the only International Grape Wine City in Asia, the city awarded with UN Habitat Scroll of Honor, and the sixth consecutive national civilized city. “Coastal Wonderland · Delicous Yantai” has become an impressive name card of the city. With a view to improving the energy level and primacy ratio of the central city, Yantai has planned nine key development areas, such as Sea World, Zhifu Wonderland, Xingfu New City, High-speed Railway New District, Jiahe New City, Mouping New City, Jinshanwan Area, Bajiaowan Central Innovation Zone and Airport New District, with a core development area of over 200 square kilometers and an investment scale of more than RMB 1 trillion. The planning has been basically completed, and it is attracting investment worldwide and accelerating construction.

Key industries

Modern logistics industry

Yantai will foster and develop modern supply chain logistics, promote the construction of Baoneng Yantai International Logistics Center, Transfar Intelligent Logistics Sci-tech City, Longkou Port Intelligent Storage Center and other projects, and add 2 star-level logistics enterprises (parks), with the total social logistics ranking top in Shandong. 

Cultural tourism industry

The brand of “Coastal Wonderland · Delicious Yantai” for city tourism will be made popular in Yantai. With the topics of summer leisure, seaside vacation, cultural sightseeing and village experience, Yantai will co-ordinate island tourism such as Yangma Island, Zhifu Island and Kongtong Island, shape distinctive tourism brands such as wine cultural tourism, speed up the implementation of several important cultural tourism projects, create Changdao National Tourism Resort, and promote the transformation of tourism from sightseeing to leisure vacation.

Efficient agricultural industry

Yantai will accelerate the development of smart agriculture, with 8 modern agricultural industrial parks and rural complexes newly identified above the municipal level, 160 family farms and 500 farmers’ professional cooperatives newly developed; and will actively develop new formats such as featured small towns, health care bases and “e-commerce villages”.

Medical care and health industry

Yantai will build a public service platform for medical R & D, promote projects such as the Oriental Ocean Precision Medical Science Park and the Yeda International Biomedical Innovation and Incubation Center, thus creating an international life science innovation demonstration area.

High-end chemical industry

Yantai will accelerate the construction of Wanhua Ethylene Project Phase II and strive to put it into operation in an early stage. It will vigorously participate in the restructuring of Shandong local refineries, and strive to start constructing the Refinery New Materials Project of Wanhua in Yulong as soon as possible, so as to create and develop new advantages with major projects.

Electronic information industry

Yantai will pay attention to the development trend of the new generation of IT industry, promote the deep integration of IT and manufacturing industry, speed up the layout of big data, AI, virtual reality and other leading industries, with the focus on promoting Foxconn semiconductor and other projects, thus building an important R&D and manufacturing base of domestic consumer electronics product. 

Manufacturing equipment industry

Yantai will focus on projects such as SGM CVT transmission and Nanshan high-end aluminum products, accelerate the layout of new energy vehicles, general aviation and other strategic emerging industries, propel the landing of key projects and build a first-class high-end equipment base in China.

Modern marine industry

Relying on CIMC Raffles, Yantai will consolidate the advantages of the marine engineering equipment industry, actively participate in the formation of China marine engineering groups, strive for the landing of northern center of China Offshore in Yantai, and accelerate the R&D and manufacture of new offshore fishing equipment, thus building an important marine engineering equipment city in China.