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Weihai
Date: 2016-1-19 17:52:04

Weihai Economic and Technological Development Zone

Weihai Economic & Technological Development Zone is located in the southern part of Weihai’s city center. The zone is a state-level development district ratified by the State Council in October, 1992, with the total area of 277 k㎡, registered population of 153,000, permanent residents of 212,000.

 

With the opportunity from China and South Korea free trade zone, Weihai municipal government has planned a new city on eastern seaside within the zone, with a planned area of 191 k㎡, including recreational and tourist resort, business and finance section, public service center, residential area, and Sino-Foreign Industrial Park. The priority is to expand industrial cooperation and people to people exchanges with foreign countries, introduce hi-tech, modern service and other high-end industries to our zone, and promote trade and investment liberalization. So far, the industrial park has attracted Beaulieu Technical Textiles, Beaulieu Fibers & Yarns, Youbang Auto Parts, and many other companies.

 

Convenient transportation

The zone is home to Weihai International Port, Weihai Railway Station, Long-Distance Bus Station. Within one hour drive, Yantai and Weihai International Airports are within reach. The Yantai-Weihai-Qingdao intercity railway has been launched in 2014, and creates a one-hour economic circle.

 

Deepening opening-up to the outside

By the end of 2013, the zone had introduced an accumulative number of 943 projects from over 40 countries and regions, with the estimated actual utilization of foreign investment for $1.83 billion. Among all the projects, 57 were from European and US companies. The actual utilization stood at $330 million, accounting for 18% of the total foreign investment. The zone conducted trade contact with 166 countries and regions, and accumulated trade volume reached $26.6 billion, up 47.7% year on year. For the first 11 months in 2013, the zone actually used $130.62 million, up by 176.5% year on year. The total export and import volume reached $4.723 billion. Among which, $844.88 million were with Europe and US, accounting for 18.7% of the total.

 

Industrial enterprises developing in clusters

The shipbuilding industry has the leading whole ship building companies, such as AVIC Weihai Shipyard, South Korea Samjin Shipyard, Donghai Shipyard, and the shipbuilding supporting enterprises and yacht companies as the backup, making the cluster a quality ship production base in Shandong Province and one of the six largest clusters.

 

High-end equipment manufacturing industry has accumulated Huadong CNC, Huadong Heavy, and Howden Hua Engineering Co. Ltd, and other leading companies in building an advanced base major in heavy CNC machines, power fan, special pump, and other products.

Food and medical industry has gathered over 40 companies including Disha Pharmaceutical company which is among the national top 100, to develop marine biology projects, new medicine manufacturing, and deep and fine processing of health products.

 

Modern service industry is growing rapidly. Within the zone’s central area, there are IEON from Japan, Lotte Group form South Korea and another 24 business service projects with a total $14.8 billion investment. We have formed the two business sections and many character blocks.

Automobile industry has gathered 191 companies specializing in complete car sales, car parts business and repairing services, and the sales accounting for 80% of the city.

 

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