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Yantai (Shandong) City Information

Major Economic Indicators (2015)
Land Area (km2)13,748
Population (million)7.0
GDP (RMB billion)644.6
GDP Per Capita (RMB)91,979
GDP Composition
     Primary Industry6.8%
     Secondary Industry51.6%
     Industry46.5%
     Tertiary Industry41.6%
Retail Sales of Consumer Goods (RMB billion)267.9
Utilised FDI (USD billion)1.92
Exports (USD billion)28.04
Imports (USD billion)21.34

Source: Shandong Statistical Yearbook 2016


General Introduction

Located in the middle of the Shandong Peninsula, Yantai is the 16th largest container port of China in 2015 in terms of throughput.

Apart from the port, Yantai also enjoys good transportation connections via land and air through its highway network. Yantai is designated as a regional hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics.

It ranked the 31st most competitive city in China according to the Chinese Academy of Social Sciences in 2016.

The industry sector is the economic driver of Yantai, contributing 47% to the GDP in 2015. Major industry is automobiles and shipbuilding. Penglai, one of the counties in Yantai, has become the largest shipbuilding base in Shandong. Other pillar industries include machinery, electronics, food processing and gold extraction. Yantai is named the “city of wine”, indicating the significance of wine manufacturing.

Leading enterprise, Dong Yue Auto, was jointly established by Shanghai General Motors, General Motors China and Shanghai Automotive Industry Corporation Group (SAIC).

Tourism is a pillar of the service sector. Yantai is an ideal tourism city with beautiful landscape and a pleasant climate. Its tourist attractions include National Forest Parks and Natural Preservation Areas.

Major Industrial Parks / Development Zones

1. Yantai Economic and Technological Development Zone (state-level)

Target industries: Machinery, automobiles, electronics, IT, bio-pharmaceuticals, chemical fibers, textiles, food processing

Major investors: General Motor, Henkel, Hyundai Motor, LG, Foxconn, Daewoo, Denso, Toyota Tsusho, Asahi Kasei Industry

2. Yantai Export Processing Zone (state-level)

Target industries: Machinery, automobiles, electronics, bio-pharmaceuticals, fine chemicals, new materials, chemical fibers, textiles, light industries

Major investors: Dongyue Auto Parts, Hongxing, Huada Chemicals, Kerry EAS, Beiming Logistics, Sunshine Logistics

Website: www.yantaiepz.gov.cn

 

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Content provided by Picture: HKTDC Research