Shandong
Weihai Economic and Technological Development Zone (including Weihai Export Processing Zone)



    Rating     A
    Year of Establishment     1992
    Land Area     5.72 km2
    Location     Weihai, Shandong
    GDP     RMB 16.43 billion, 8.1% up (2012), RMB 9.83 billion (Jan-Jun 2013)
    FDI     US$3.03 billion, 31.6% up
    Utilized FDI     US$110 million (2012), US$34 million (Jan-Jun 2013)
    Major Investors     Weihai Guyoung Auto Parts, Dayu Shipbuilding, Shiyi Electronics, Shijing Chemicals, Disha Pharmaceuticals, Shanhua Carpet, Jiakang Food Processing
    Major Industies Encouraged     Automobiles, machinery, electronics, chemicals, pharmaceuticals, textiles, food processing, building materials
Source: Administrative Committee of Weihai Economic and Technological Development Zone


Introduction
Located south of Weihai, Weihai Economic and Technological Development Zone (Weihai ETDZ) was set up by the State Council in 1992. It consists of five zones: an industrial zone, an export processing zone (Weihai EPZ), a financial trade zone, a residential zone and a resort zone. The zone was set up in 2000 and covers an area of 2.6 sq km.

Weihai ETDZ has an extensive transportation system. There are two highways connecting the zone with Qingdao and Yantai, and a freight train station is located within the zone. Weihai International Airport, 20 km from ETDZ, offers flights to Beijing, Jinan, Harbin, Dalian, Guangzhou, Hainan and Seoul.

Weihai ETDZ is also located near Weihai New Port, which has several 50,000-ton tanker berths, 20,000-ton container berths and 20,000-ton coal-use berths. Freight ships regularly travel to South Korea and Japan from this port.

Investment Climate
In 2012, GDP of Weihai ETDZ reached RMB 16.43 billion, accounting for 7% of the city’s total. The gross industrial output of the zone decreased 0.6% year on year to RMB 37.41 billion.

The eight pillar industries of Weihai ETDZ are automobiles, machinery, electronics, chemicals, pharmaceuticals, textiles, food processing and building materials. Major enterprises in these industries are Weihai Guyoung Auto Parts, Dayu Shipbuilding, Shiyi Electronics, Shijing Chemicals, Disha Pharmaceuticals, Shanhua Carpet and Jiakang Food Processing, the first four of which are backed by companies from South Korea.

In 2012, the zone introduced 12 new foreign invested projects, while its utilized FDI amounted to US$110 million, remained flat from a year earlier. By the end of 2012, more than 912 foreign-funded projects from over 30 countries and regions had commenced operation in the zone. Major foreign investors in the zone include AOEN, Bekaert and Howden.

Weihai is near South Korea and Japan. Many Korean and Japanese investors invest in Weihai because it is easy to ship goods from Weihai to their domestic markets. In 2012, export value decreased 4.4% to US$2.01 billion, accounting for 18.9% of the city’s export.

Weihai EPZ’s pillar industries include electronics, precision machinery, bioengineering, pharmaceuticals, new materials and marine products processing. In the first six month of 2013, the GDP hit RMB 9.83 billion, the import value hit US$ 1.91 billion, the export value hit US$998 million, and the utilised FDI reached US$ 34 million.

Investment Cost
 
 
Winning Edge and Limitation
Winning Edge
  • Weihai is located near South Korea and Japan, which provide the city’s enterprises many opportunities to expand their markets.
  • Weihai has an extensive transport system, especially in terms of marine transportation.


Limitations
  • Located at the eastern tip of the Shandong Peninsula, Weihai is relatively far from inland cities.
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