Special Supplement Yantaiseries II: Port development spells prosperity for Yantai

One of the first 14 coastal cities opened to the outside world, Yantai has increasingly gained in life and vigor as a result of the opening-up and reform policy. On December 4, 1992, Yantai Port achieved goods throughput of more than 10 million tons to become one of China's major 10-million-ton ports.

Nine ports have so far been built along the 900-km Yantai coastline, including Yantai, Longkou, Penglai, Changdao, Laizhou, Muping and Haiyang.

A study of Yantai's economic development curve would reveal that the fate of the city is closely bound up with its ports, and their development is vital in terms of the direct contribution they make to the economy as well as the employment situation.

Expert studies show that every ten thousand tons of port throughput contributes 1.1 million yuan to the GDP (gross domestic product) and creates 20 job opportunities for Yantai's citizens. Throughput exceeding 100 million tons last year has therefore contributed more than 11 billion yuan, and created more than 200,000 jobs.

"We are urged to fully implement the strategies of 'mutual promotion of city prosperity by virtue of ports development' and speed up the construction of on-the-port industry, logistics, and tourism, in order to exert its potential power in a new round of port development," said Sun Yongchun, secretary of Yantai Municipal Party Committee.

"Most international metropolises have bloomed by relying on ports, as well as on-the-port industries. The port can bring the coastal city large amounts of capital, human resources and goods, through which the development of manufacturing industries in and around the port city will be accelerated," said Du Futang, chief of Yantai Port and Waterway Bureau.

The port's prosperity will also provide an impetus to the development of production-oriented service industries such as banking, insurance, trade and intermediary services, as well as promote consumer-oriented services such as tourism, catering, commerce and exhibitions, he added.

Yantai Port's rapid and healthy growth has helped its industries and logistics sectors achieve breakthroughs in the development of shipbuilding, liquefaction storage, mechanical processing, building material manufacturing and seafood production.

The port's recent achievements include the implementation of Daewoo Co's shipbuilding project in the Yantai development zone and the completion of the drilling platform project by Jutao Ocean Engineering Co, as well as ChemChina's investment of more than 300 million yuan in Laizhou Port District to build a 420,000-cubic-meter liquefaction zone. Further, the second period of extensive construction by Yantai Yihai Cereals, Oil and Foodstuffs Corporation has been put into effect, with one million tons extra throughput per year.

This year, new investment worth about 2.4 billion yuan from Yantai municipal government will go into 21 newly begun port building and extension projects. The renovation of Yantai Port's Zhifu Bay and all-around construction of Yantai West Port District, Longkou Port, and Jimu Island deepwater dock of the Longkou Port are now in full swing.

During the 11th Five-Year Plan (2006-10), about 5 billion yuan is estimated to be pumped into building 70 docks with an anticipated annual capacity of 200 million tons, which will make Yantai West Port a significant hub in the Bohai Sea area.

(China Daily 05/29/2007 page24)