Weihai city high-tech zone sees steady growth in H1

The Weihai Torch High-Tech Industry Development Zone – located in Weihai city in East China's Shandong province – made steady progress in the first half of the year.

A view of the Weihai Torch High-Tech Industry Development Zone. [Photo by Gao Xin for chinadaily.com.cn]

According to statistics, the total gross regional product, or GRP during the period came in at 25.88 billion yuan ($3.55 billion).

Industrial production – especially in computers, communications and other electronic equipment manufacturing sectors – maintained steady growth and contributed to a 2.2 percentage point increase in the zone's value-added industrial output.

To support foreign trade, the Weihai High-Tech Zone has organized a number of training activities – such as Regional Comprehensive Economic Partnership seminars – to encourage more high-tech products and industries to enter international markets.

In the first half of the year, the zone's total imports and exports were worth 21.57 billion yuan. Additionally, utilized foreign investment totaled $173.53 million with 59 percent in high-tech industries.

What's more, the incomes of residents saw a steady increase, with the average disposable income per person increasing by 5.3 percent from the previous year, up to 28,112 yuan.

In particular, the tax structure has also been optimized, as seen in the taxes on manufacturing and industrial transactions which increased by 28.5 percent and 32.3 percent year-on-year, respectively, both higher than the first quarter by 3.7 percentage points. (Edited by Zhou Yunlai)