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The Yantai Economic and Technological Development Zone (YETDZ) is one of the state-level development zones that were set up in 1984. It is designed to eventually cover 36 square kilometers. Until now, development has been completed on 20 square kilometers, involving RMB18 billion in investment in fixed assets including RMB2 billion in infrastructure development. At present the YETDZ is home to 480 projects using capital investment from 25 countries and regions. These involve US$1.6 billion in contract investment, of which US$1.3 billion has been realized. Of the 500 top companies across the world, 13 have invested in the YETDZ. In 2001, the YETDZ yielded RMB6 billion in GDP and RMB13 billion in industrial output value, and paid RMB1 billion in taxes. Exports handled by the YETDZ amounted to US$380 million. The YETDZ also has had to its credit the development of some 150 new products, and the implementation of 70 projects under the state Torch Program designed to promote China‘s agricultural modernization.
By dint of hard work over the years, the YETDZ has won a string of honors for itself:
-- The Ministry of Foreign Economic Cooperation and Trade assessed the investment environment of all the 49 state-level development zones in 2002, and investment conditions in the YETDZ were rated as the sixth best.
-- 1996, the YETDZ set up an industrial park special for investment by Chinese students returned upon completion of their studies abroad. The industrial park has been designated by the central authorities to demonstrate ways of attracting potential investors from among those Chinese citizens who have completed their studies in foreign countries.
-- The State Environmental Protection Bureau and the United Nations Environment Agency have jointly designated the YETDZ to demonstration ways of environmental management to development zones and industrial parks across China. Moreover, the YETDZ is the first in Shandong Province to have passed ISO14001 environmental authentication.
You‘re welcome to the YETDZ for business. Once there, you‘ll find the YETDZ ideal for investment.
The YETDZ enjoys a superb natural surrounding. It is on the western beach area of Yantai, a leading tourist and port city of China‘s. It is, in fact, a seaside resort itself, picturesque with crystal blue seawaters and lush-green trees. With an annual temperature averaging 12 degrees Centigrade and an annual humidity averaging 64%, the area is neither too cold in winter nor too hot in summer and reminds you of those areas round the Mediterranean.
Yantai is rich in natural resources. With a coastline of 900 kilometers, it has 600,000 hectares of shoal land for development. More than 9 million tons of aquatic products and 2.2 million tons of fruit are produced in Yantai every year. More than 30 mineral deposits have been verified as exploitable in Yantai. The city accounts for one fifth of the country‘s gold reserves, and furnishes one quarter of the country‘s output of gold.
The Yantai Port is one of the top ten in China, with 15 berths good enough to accommodate 10,000 ton-class vessels. Ships departing from the port sail to ports in more than 100 countries and regions. The city is a hub of communications in east China, with railways and highways radiating to all parts of the country. The Yantai Airport handles more than 100 flights a week. It has opened 24 domestic flights and three international flights to Japan, the Republic of Korea and Hong Kong, separately. The YETDZ is just nine kilometers away from the port and railway station, and it is just a 30 minutes‘ drive from there to the airport.
Infrastructure development has been completed on the first 20 square kilometers of the YETDZ to ensure investors of sufficient supply of water, heat, gas and electric power and adequate access to telecommunications. A road system is already in place, extending to all parts of the 36 square-kilometer area the YETDZ is to cover eventually. To be more specific, the water supply system has a daily capacity of 50,000 cubic meters, and the power supply system is 200,000 KVA in capacity. Already in operation is a telephone system of 130,000 lines, and direct dialing is possible from the zone to all parts of China and the world. Investors will also find standard workshops, office space and residential buildings ready for them, along with a range of service facilities including banks, schools and tourist agencies.
In addition to all these "physical" advantages, investors in YETZD will find the local policies to the best of their benefit. The YETZD is authorized to independently approve projects involving an investment of up to US$30 million. To put it graphically, the procedures for starting a project of this caliber can be completed within a week from the day the investor hands in the applications. The YETZD Customs Office is directly responsible for the General Administration of Customs. In other words, companies can go through the customs procedures without having to leave the zone. Moreover, the office offers a range of bonded services right in the zone.
By dint of hard work over the years, the YETDZ has won a string of honors for itself:
-- The Ministry of Foreign Economic Cooperation and Trade assessed the investment environment of all the 49 state-level development zones in 2002, and investment conditions in the YETDZ were rated as the sixth best.
-- 1996, the YETDZ set up an industrial park special for investment by Chinese students returned upon completion of their studies abroad. The industrial park has been designated by the central authorities to demonstrate ways of attracting potential investors from among those Chinese citizens who have completed their studies in foreign countries.
-- The State Environmental Protection Bureau and the United Nations Environment Agency have jointly designated the YETDZ to demonstration ways of environmental management to development zones and industrial parks across China. Moreover, the YETDZ is the first in Shandong Province to have passed ISO14001 environmental authentication.
You‘re welcome to the YETDZ for business. Once there, you‘ll find the YETDZ ideal for investment.
The YETDZ enjoys a superb natural surrounding. It is on the western beach area of Yantai, a leading tourist and port city of China‘s. It is, in fact, a seaside resort itself, picturesque with crystal blue seawaters and lush-green trees. With an annual temperature averaging 12 degrees Centigrade and an annual humidity averaging 64%, the area is neither too cold in winter nor too hot in summer and reminds you of those areas round the Mediterranean.
Yantai is rich in natural resources. With a coastline of 900 kilometers, it has 600,000 hectares of shoal land for development. More than 9 million tons of aquatic products and 2.2 million tons of fruit are produced in Yantai every year. More than 30 mineral deposits have been verified as exploitable in Yantai. The city accounts for one fifth of the country‘s gold reserves, and furnishes one quarter of the country‘s output of gold.
The Yantai Port is one of the top ten in China, with 15 berths good enough to accommodate 10,000 ton-class vessels. Ships departing from the port sail to ports in more than 100 countries and regions. The city is a hub of communications in east China, with railways and highways radiating to all parts of the country. The Yantai Airport handles more than 100 flights a week. It has opened 24 domestic flights and three international flights to Japan, the Republic of Korea and Hong Kong, separately. The YETDZ is just nine kilometers away from the port and railway station, and it is just a 30 minutes‘ drive from there to the airport.
Infrastructure development has been completed on the first 20 square kilometers of the YETDZ to ensure investors of sufficient supply of water, heat, gas and electric power and adequate access to telecommunications. A road system is already in place, extending to all parts of the 36 square-kilometer area the YETDZ is to cover eventually. To be more specific, the water supply system has a daily capacity of 50,000 cubic meters, and the power supply system is 200,000 KVA in capacity. Already in operation is a telephone system of 130,000 lines, and direct dialing is possible from the zone to all parts of China and the world. Investors will also find standard workshops, office space and residential buildings ready for them, along with a range of service facilities including banks, schools and tourist agencies.
In addition to all these "physical" advantages, investors in YETZD will find the local policies to the best of their benefit. The YETZD is authorized to independently approve projects involving an investment of up to US$30 million. To put it graphically, the procedures for starting a project of this caliber can be completed within a week from the day the investor hands in the applications. The YETZD Customs Office is directly responsible for the General Administration of Customs. In other words, companies can go through the customs procedures without having to leave the zone. Moreover, the office offers a range of bonded services right in the zone.