YANTAISPECIAL 12 MONDAY JULY 13, 2009 CHINA DAILY Yantai: One of China’s most prosperous coastal cities and one heavily backed by many of Hong Kong’s most insightful investors is now ready to embark on its most ambitious and far-reaching economic expansion initiative. Yantai party chief urges closer ties with HK Editors’ note: On the eve of Yan- remarkable success in terms economic development, foreign foundation for ongoing Yan- cilities. This will see the city With complementary re- or viewing our excellent port fa- tai-Hong Kong trade talks aimed of securing investment. This trade and overseas investment tai-HK cooperation, together seeking to accelerate the speed sources, Yantai and Hong cilities, we believe any visit to at future economic co-operation, investment has focused on a have contributed more than 30 with the substantial revenues of development for its modern Kong have enormous scope for the city will convince tourists Sun Yongchun, Party secretary of cluster of projects centered percent to the growth of the lo- already achieved, indicates and high-end services, as part mutually beneficial coopera- and investors of the fantastic the Yantai city committee, made around the Yantai Economic cal economy. excellent prospects for a future of a bid to increase effi ciency tion. I genuinely hope that our potential of Yantai and of the a keynote speech urging greater and Technological Develop- To date, Yantai has forged partnership, across a broad through restructuring its in- two sides will continue to ben- bright future that awaits it. collaboration between the two ment Zone, the Export-oriented economic and trade coopera- range of projects, between the dustrial base and optimizing efi t from close economic cities. This is a transcript of his Processing Zone, the APEC tive ties with more than 180 two parties. its growth patterns. and trade ties in the call for action. Technological Industrial Park countries and regions and With Yantai now on the cusp In light of this, the forthcom- future. and the recently-established established sister city relation- of a major economic initiative, ing Yantai-HK talks, addressing In the mean- It is July, hot yet full of passion, Yantai Hi-tech Technological ships with 16 cities in 11 coun- this trading relationship is “Investment Cooperation for time, we will and I’m glad to be in Hong Kong, Industrial Park. tries, including San Diego in the more important than ever. The Key Service Projects”, have a be delighted the famous and beautiful “orien- By the end of last year, the United States, Beppu in Japan coming months will see the city particular resonance. They form to continue to tal pearl” at this time. On behalf number of overseas-backed and Ulsan in South Korea. focus on the development of its part of a strategic initiative in welcome visitors of all of the members of the projects had exceeded 11,900, Famed as the one of the “Blue Economic Zone”. This will line with the national drive to- from home and Yantai trade delegation and the whilst employed overseas world’s leading financial, see Yantai boosting its mari- wards industrial restructuring abroad to come and city’s 6.5 million population, I’d capital stood at around $19.75 shipping and trade hubs, Hong time resources and looking to and could, potentially, provide experience Yantai like to send my sincere regards billion. Kong is one of most important develop its high-end industrial a huge boost for Yantai’s entire for themselves. and best wishes to all the people Among the investors in the partners for Yantai in the cluster on the Shandong Penin- service sector. Whether sampling of Hong Kong. city are more than 70 Fortune development of its trade and sula. This is expected to usher This year marks the 60th our famous wines Set in the east of the Shan- 500 companies, including GM, investment projects. in a golden period of growth anniversary of the establish- dong Peninsula, Yantai was Timken, Henkel, Total, Mitsubi- At present, the number of for the city and mark the be- ment of the People’s Republic among the first tranche of shi, Toyota, LG, Dayu, Hyundai HK-funded projects in Yantai ginning of a crucial new stage of China. On reflection, we coastal Chinese cities desig- and China Resources, all of is 2,853, representing some in its economic history. cannot but fail to conclude that nated as part of the country’s whom see Yantai as a key part- $9.56 billion in contractual To ensure we fully grasp this the subsequent opening up and opening up process. It has now ner in their long-term plans for investment and $4.84 billion opportunity, we are accelerat- reform program has hugely ben- been listed as one the “China global strategic cooperation. in used capital, making Hong ing our industrial revitalization efited Yantai’s development. Gold Medal Cities for Environ- Through capitalizing on its Kong the largest source of in- plan. This will involve major This policy has inspired mental Investment”, as evalu- levels of overseas investment, vestment for the city. investment in our eight key our huge achievements ated by the World Bank. It is Yantai has restructured and Hong Kong’s investment sectors - automotive, electronic over the past years truly a jewel on the southern reinvigorated more than 80 in Yantai stretches across a information, ships, chemicals, and will continue bank of Bohai Bay. percent of its existing core busi- wide range of sectors, includ- light industry, textiles, equip- to shape the city Recent years have seen this nesses and sought to develop a ing mechanicals, electronics, ment manufacturing and gold in the future. dynamic city make substantial number of emerging business- chemicals, textiles, construc- processing. progress on the road to becom- es. Currently, overseas-backed tion materials, metallurgy, We are also looking to extend ing more cultured, open and companies have contributed light industry, food, agricul- industrial chains in 10 of our prosperous. Taking a scien- some 84 percent of the city’s ture, aquatic products, infra- most important sectors — au- tific outlook on development total foreign trade and nearly structure facilities, energy and tomotive, cell phones, comput- as a guiding principle and the a half of its tax revenues. real estate. ers, food, good, wine, shipping, opening-up policy as its key As two of the three most The existing well-estab- chemicals, special chemical strategy, we have achieved important driving engines for lished, solid and collaborative fibers and nuclear power fa- Coastal city celebrates 25 years of growth By Wang Yi city, with the accelerated as a source for all three of these Wall and Dynasty. the miracles once wrought here, investment capital in place substances. With nearly half of the together with its abiding Taoist registered at $19.75 billion by Perhaps more impressively, it nation’s total wine output pro- traditions, add still further to Set to the east of the Shandong the end of 2008. also has the top slot as China’s duced in the coastal city, the the beguiling charm of this Peninsula and bordered by Yantai has always been at premier source of gold. Its International Office of Vine singularly fascinating city. Bohai Bay and the Yellow Sea, the forefront of China’s coastal moderate climate has also seen and Wine (OIV) has acknowl- According to the region’s the city of Yantai enjoys distinct cities in terms of economic Yantai emerge as a primary edged Yantai as a “fine vine legends, Qinshihuang, the fi rst advantages both geographically growth, with a gross domestic supplier of both marine and planting center”, making it the emperor of the Qin Dynasty and economically — not least product of 343.4 billion yuan agricultural resources. only Asian city to have been ac- (221-206 BC), whose accession from its pivotal role in linking last year. The bay around the city is corded this signal honor. to the throne marked a new era One of China’s leading freight terminals the two peninsulas of Liaodong home to more than 200 aquatic Amid other plaudits, the Yan- for the freshly unifi ed nation, and Shandong. Rich resources species and has been designat- tai International Wine Festival, was a regular visitor to Yantai Wanted: 20 key project backers... This coastal city, the largest Yantai is set in an area rich ed as one of the most important a biennial event, has now be- during his many sojourns to the fi shing seaport in China’s east- with mineral resources. To date, centers for fi sh farming in the come a platform for worldwide east of his kingdom. ern Shandong province, has more than 70 different kinds of country. winemakers to showcase their The city’s signifi cance con- The Yantai-HK Talks on Investment Cooperation for Key Service long been targeted by shrewd minerals have been discovered As a key vegetable and fruit latest products and exchange tinued long after. During the Projects will kick off in the Grand Hyatt Hong Kong at 10:00 am investors, keen to capitalize in the area, with some 40 of export center, the city also views on the latest happening Tang Dynasty (Ad 618-907), on July 15. The event will highlight the following 20 projects in on its status as one of the fi rst them currently actively being generates around 4.4 million and innovations on the global Dengzhou, a suburb of Yantai the city, all awaiting potential investors: Chinese cities to “open up” for mined and utilized by the city tons annually in fruit output wine scene.