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Yantai's top 10 business news in 2015
Updated : 2016-01-06
(chinadaily.com.cn)
As 2015 comes to close, Yantai municipal bureau of commerce summarized 10 economic events that influenced Yantai's economy in 2015.
1. China-South Korean Industrial Park
The China-South Korean Industrial Park, part of the China-South Korean free trade agreement, aims to become the best investment destination in China for South Korean enterprises and largest distribution center for South Korean goods in China. A series of programs including "South Korean Town" will be established in the park.
2. Foreign investment increases
In 2015, the port city signed a string of agreements with companies from Hong Kong, Japan and South Korea, as well as governments of Australia's Charles Sturt, Germany's Erlangen and South Korea's Gunsan. Ten world top 500 companies opened branches in Yantai. Yantai Kanwa Food Co got listed in the stock market in UK, becoming the first Chinese aquatic product company listed in the UK.
3. Foreign trade
The first South Korean exhibition and sales pavilion for agricultural food opened in Yantai; Shandong's first direct sales center for imported commodities also started in Yantai; Yantai signed an agreement with Poland to build a "Poland-China Shopping Mall."
4. Keeping pace with China's Belt and Road Initiative
From January to November, Yantai invested 840 million yuan ($128.75 million) in overseas countries, up 46.2 percent year-on-year, including 170 million yuan on countries along the Silk Road Economic Belt and 21st Century Maritime Silk Road, which was an increase of 50 percent.
5. Development of economic development zones
Five economic development zones in Yantai ranked among the top 30 in Shandong in 2014.
6. E-commerce industry maintains strong momentum
Yantai e-commerce industrial park was designated as a national demonstration park for e-commerce. Qixia, Laiyang cities and Fushan district have cooperated with Alibaba on e-commerce business. The e-commerce trade volume in 2015 reached 212.61 billion yuan, a year-on-year increase of 35.8 percent.
7. Innovation of business model
Yantai municipal government rolled out suggestions on innovation of the business model, including encouraging e-commerce, building modern logistics system, changing traditional sales model and transforming traditional industries.
8. Meat and vegetable distribution traceability system
The city has developed a full-range traceable chain for meat and vegetables. The traceability system covers local slaughterhouses, wholesale markets, farmers' markets and supermarkets. It enables customers to check meats and vegetables' production, transportation and retailing via hotline, WeChat or website.
9. Full logistics system
Yantai has boosted the construction of an integrated logistics system covering the urban and rural areas to build seamless connection between agricultural products' production, processing and delivery.
10. Livelihood projects
In 2015, Yantai has further optimized services for locals, building 50 fair-price meat chain stores and 10 vegetable chain stores. In addition, the government allocated 2 billion yuan on senior citizen's service.