BEIJING, July 12, 2021 /PRNewswire/ -- Yantai, a famous coastal city in East China, is becoming an important window for the country to communicate with its East Asian neighbors.
Adjacent to Japan and South Korea as a large port, Yantai is home to investors from these two countries. The Yantai China-South Korea Industrial Park, as a vital sign of the city's goal of attracting foreign investment, is one of the three national industrial parks involving South Korea.
Established in 2018, the Park accommodates over 60 South Korean companies. These foreign companies could complete all the legal procedures abroad for setting up Yantai-based joint ventures, the first ever favorable policy of its kind in China.
Following the launch of the Park, Yantai continued to open wider to the outside world. In August 2019, the city became part of the Shandong Free Trade Zone, which is committed to attracting a wider range of foreign investment from East Asia, including Japan. By August 2020, 4,500 enterprises had been registered in the zone, including over 540 South Korean-funded enterprises, with 20 among Top 500 South Korean companies.
Yantai is also dubbed "home away from home" for South Korean investors by the South Korean Consul-General in Qingdao, who wishes to bring more South Korean investors to the coastal city.
The animated video Shore of Heaven, Beauty of Yantai, co-produced by China Matters and the Yantai Publicity Department, demonstrates interesting stories of Yantai's history, culture, customs, and prospects.