Briefing of YEDA
Located on the Shandong Peninsula by the Yellow Sea, YEDA faces Beijing and Dalian across the sea on the north, links with Shanghai and Qingdao on the south and is separated from its close neighbors, South Korea and Japan, on the east only by a narrow strip of water; therefore, YEDA lies in the geometrical center of Beijing, Shanghai and Seoul. Furthermore, YEDA is one of the significant "Growing Spots" of the Economic Ring around the Bohai Sea that China endeavors to develop in the 21st century.
Destined Position
Yantai Economic & Technological Development Area (YEDA) is one of the first 14 state-level development zones approved by the State Council of the P. R. China in October of 1984. In September of 2003, with the approval of the central government of China, Yantai Export Processing Zone B came into being in YEDA.
Covering an area of 228 km2, YEDA is destined as a new modernized foreign-oriented industrial town and will be built into one of the largest industrial bases in Shandong Province.
Natural Environment
YEDA is smooth in terrain and firm in geological structure. The natural ground bearing strength is above 12 MT and the depth of underground water is above 1.7 meter in most part of YEDA and about 2.8 meter in the western part.
The climate here is characterized with distinct seasonal changes. The annual average temperature is 12.5oC, with the lowest -13.1oC and the highest 38oC. The temperature of the coldest month (January) is -4.7oC on average and that of the hottest month (August) is 27.2oC. The yearly average rainfall is 737 mm with comparative humidity of 64%.
As YEDA borders the beautiful sea in the north and is embraced by a 45-km-long belt made up by a seaside forest, long seashore with smooth and fine sand, and vast expanse of blue water. In October of 1993, the Golden Sandy Beach Resort came into existence in YEDA with the approval of Shandong Provincial Government; thus, YEDA is not only an ideal place for investment but also for residence and tourism.
Current Situation
With permanent residents of 130,000, 25 km2 of YEDA has been constructed.
YEDA has up to now attracted investment from 33 countries and regions, among which, 22 Fortune 500 Companies have invested here. In terms of investment amount, South Korea, Hong Kong, USA, Japan, Taiwan, Germany, Singapore, Canada, U. K, and Sweden come the first 10.
(The breakdown of foreign capital: 45% from South Korea, 25% from Hong Kong, 10% from USA, 6% from Japan, 3% from Taiwan, 2.5% from Germany, 2% from Singapore, 1.5% from Canada and 5% from other countries.)
Various pillar industries such as machinery, automobiles, electronic information, textiles and chemical fiber, foodstuff processing, fine chemicals, pharmacy, etc. have been complementarily developing, making YEDA an important production base of automobiles, automobile components, engineering machinery, electronic masks, spandex and CDMA mobile telecom in China.
Among all the state-level development zones, YEDA ranks 6th in terms of comprehensive evaluation of investment environment, and comes 8th in regard to overall economic strength.
YEDA has passed the Authentication of the ISO 14000 Environmental Management System; in addition, the United Nations Environmental Program has conferred YEDA on one of the demonstration areas for environmental management over the National Industrial Towns. At present, YEDA is heading on the way to turn itself to be a paradise for the investors thanks to its ideal investment environment and living conditions.
Back-up City
As the back-up city of YEDA, Yantai is one of the first 14 coastal cities in the country opening up to the outside world. Covering an area of 13,700 km2, Yantai has a population of 6.50 million, 1.68 million of whom are urban residents.
Being one of the "50 Comprehensively Powerful Cities" of China, Yantai has been awarded the titles of “40 Chinese Cities with Perfect Investment Environment”, “Model City for Protecting Environment”, “State-level Hygiene City”, “Advanced Cities with Comprehensive Administration over Public Order" and "State Cultural Model City". Meanwhile, it is a well-known “Fruit Town” and an ideal place for tourism and summer vacation.
The expressway and railway link Yantai with the whole country, and its port is one of the major hub ports of China and its airport is an international one. The total installed capacity of telephone service in this city has reached 2.76 million sets; its power generating capacity is 10 billion KW/h, which can provide sufficient electricity power; water supply for industrial and civilian purposes is sufficiently secured with a total supply capacity of 629,000 m3 per day. There are 8 colleges and universities and 91 secondary vocational schools. The 9-year compulsory education has covered the whole area. The proportion of people who have received the junior middle school education is 10% higher than that of the whole country, which secures high-qualified labor force.