The towering lighthouse on the Yantai Hill has been witnessing the history of Yantai and the city’s journey of notable development. As the biggest trading port in North China over 1000 years ago, and the earliest trading port of Shandong in the 17th century, where 17 countries set up their consulates, including the US, UK, Japan and France, Yantai is now among the earliest opening-up cities of China in the 20th century.
History
As a city endowed with fine spirit and outstanding people, Yantai enjoys a long history and splendid culture. The Yantai people are of confidence and open mind, who have created fascinating culture and art by their wisdom and hardworking. Yantai is well known in China as “Home of Peking Opera” and “Home of Athletics”. Thirteen programs, such as Legend of Eight Immortals Crossing the Sea, have been listed in the National Intangible Cultural Heritage. The Haiyang Yangko Dance was performed at the Opening Ceremony of the 29th Olympic Games in the Bird’s Nest Stadium.
Beautiful Landscape
Surrounded by mountains and seas, Yantai is blessed with the picturesque landscape and four distinct seasons. It is a vibrant and beautiful coastal city favorable for human settlement, known as the “Fairyland on Earth and City of Wine”, where you can enjoy blue sea and sky, golden sunshine and beach, miraculous islands, spectacular Penglai Pavilion, illusive mirage, clusters of grapes and numerous hot springs. The city, as a well-known tourist resort, has 98% air quality excellence rate and 40% forest coverage.
Economic Strength
Over the past 30 years since the reform and opening up, Yantai has been witnessing rapid economic development with notable improvement of economic strength and well-established industrial foundation. In 2011, the city’s GDP amounted to 77.9 billion US dollars with per capita GDP of nearly 11,000 US dollars. Its total economy ranked the 2nd in Shandong Province and the 20th in the nation. The proportions of the primary, secondary and tertiary industries in GDP are as 7.4:57.7:34.9.
Yantai is a cradle of the national industries. “Changyu” wine, “Polaris” watches and “Tri-circle” locks are well known at home and abroad.
Inbound Foreign Investment
Opening up has made Yantai a promising land for foreign investment, which has highly upgraded the industries of Yantai. A large number of companies, such as Shanghai GM Dongyue, Doosan Infracore, Daewoo Shipbuilding, Raffles Shipbuilding and Doosan Machine Tool have created a new machinery industry. A large number of electronics companies, like Foxconn Electronics and LG Mobile Phone, have set up a new electronics and information industry. A large number of companies, such as Longda Group, Luhua Group, Andre Juice and Asahi Green Source, have formed a new foodstuff industry. And a large number of gold processing companies, like Zhaojin Group and Kinpo Electronics, have built gold-related business clusters. These fast-growing businesses are showing a promising prospect of the future economic development.
By 2011, more than 90 countries and regions have invested in Yantai, with 23.3 billion US dollars foreign investment in actual use. More than 90 “Global Top 500” companies and famous multi-national companies, such as GM, Timken, Ralston Purina from the US, Mitsubishi, Mitsui, Itochu, Toyota, Honda, Denso, Idemitsu Kosan, Asahi and Aeon from Japan, Henkel from Germany, Total from France, Hyundai, LG, Doosan, Daewoo, GS from South Korea and Hon Hai Group from Taiwan, have set up operations in Yantai.
Yantai has forged trade partnership with more than 200 countries and regions around the world. In 2011, the total imports and exports of the city reached 45.3 billion US dollars, of which exports amounted to 26.7 billion US dollars and imports 18.6 billion US dollars. The top three trading partners of Yantai are South Korea, USA and Japan.
Honors of Yantai
Yantai has received many honors, such as “UN-Habitat Scroll of Honor”, “China’s Model City of Human Settlement”, “Top Ten Chinese Cities for Living Quality”, “China’s Top Ten Leisure Cities”, “ Golden City” for Investment Environment”, “One of the Most Valuable Cities for Multi-national Companies”, “ Chinese City Most Favorable for Logistics Development” by Forbes, “International Vine & Wine City”, “Most Charming Chinese City”, “Best Tourism City”, “Model City for Comprehensive Management of the Public Security” and “Model City for Environmental Protection”. More than 100,000 foreign business people and their families have settled in Yantai, along with their businesses. They enjoy living and working in Yantai.
Population: around 7.02 million
Temperature: average 12.7 ℃(54.86°F)
