FTA experience to power new industrial park linking Yantai, S. Korea

The China-South Korea Industrial Park in Yantai, Shandong province, will take a leaf from the practices used in the country's four pilot free trade zones, including Shanghai and Tianjin, to develop e-commerce, healthcare and high-end maritime equipment manufacturing sectors to fuel growth.

Many of these opportunities come after China signed its largest bilateral free trade agreement in terms of volume with South Korea on Monday, which focuses on 17 areas, including trade in goods and services, healthcare, entertainment, investment and trade rules, as well as e-commerce and government procurement.

Located in East China's Shandong province and geographically close to South Korea, the China-South Korea Industrial Park has helped the city attract $5.3 billion of South Korean investment in 3,551 projects, mainly focusing on construction machinery, vehicle and other high-end manufacturing, as well as energy-saving and biotechnology sectors.