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Yantai banks on new marine zone
Updated : 2014-07-03
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Coastal Yantai in Shandong province has ambitions to be the top marine economy in the nation. Zhu Xingxin / China Daily |
600 square kilometer area for industry, tourism and bonded trade, Fu Chao reports.
As it works to turn Yantai into the nation's top marine economy, the municipal government is developing a sprawling new area in the port city, said Mayor Meng Fanli.
"Yantai is a place full of potential and hope. The high-tech marine new area will be the engine of the city's growth," said Meng during a recent news conference with a group of Asian media visiting Yantai.
Located in eastern China's Shandong province, Yantai city has 909 km of coastline and was one of the first 14 coastal cities to open up to the world. With a well-developed marine industrial chain, the city was recognized by the World Bank in 2006 as one of best investment environments in China.
The high-tech marine new area in the east of the city shares - and also shapes - the Yantai's appeal.
Covering some 600 sq km of five districts in the city, the new area has a 150 km coastline and a range of economic zones for emerging industries, tourism and bonded trade.
The bonded trade zone in Zhifu district serves as a hub for foreign investment, logistics and manufacturing.
Yu Huawen, the director of the zone, said import and export volume in 2013 reached $15.74 billion, ranking first among the country's bonded trade zones.