The eastern coastal city of Weihai, Shandong province has been ramping up efforts to further expand its high-level opening-up, enhance its services for foreign-funded firms and projects and build a competitive export-oriented economy, local media reported.

The China-South Korea (Weihai) International Business Club [Photo/Iqilu News]

The China-South Korea (Weihai) International Business Club was recently put into operation in Weihai as a new window for the city to expand its opening up and cooperation with South Korea.

The business club has a total floor area of 4,500 square meters, covering three functional areas, including the reception hall, the centralized office area for settled institutions (the RCEP Enterprise Service Center), and the one-stop service center of the commodity distribution center of South Korea and Japan.

It aims to build a comprehensive international exchange service platform that integrates exhibitions and promotional events, roadshows, business services, and comprehensive office. It is also part of the city's efforts to optimize the business environment.

Weihai Port in Shandong province [Photo/Iqilu News]

Weihai and South Korea face each other across the sea and Weihai is the nearest Chinese city to South Korea. The two sides are very close to each other in terms of geographical location, ancestral ties and cultural background.

South Korea is also an important trade market and source of foreign capital in Weihai.

The city is also expanding cooperation with Japan. Weihai has a good foundation for economic and trade cooperation with Japan. The city does business with 125 Japanese investment enterprises and nearly 1,700 trade enterprises.