Weifang Binhai: New hub for opening up
Weifang Port in Binhai district, Weifang city, Shandong province, has seen rapid development in recent years, with significant growth in both throughput and foreign trade volume.
In November, the 50,000-metric-ton cargo ship Jubilee unloaded 30,000 metric tons of industrial salt for foreign trade at Weifang Port, marking Bohai Bay Port's first time to handle the imported industrial salt from overseas. This achievement also demonstrated a new large-ship lightering model.
Cargo ship Jubilee conducts discharging operations at the Weifang port. [Photo provided by Pang Yongliang/for chinadaily.com.cn]
Relying on its port advantages, Weifang's Binhai district has engaged in the Belt and Road Initiative in order to improve its business environment and attract investment and talent to help enterprises globalize.
The district has built a strong foundation with industries in new pharmaceuticals, materials, energy, and high-end manufacturing, attracting over 70 foreign-invested companies from 22 countries. This year, actual foreign investment reached $65.53 million, with high-tech and manufacturing sectors showing remarkable growth.
As foreign capital flows in, local businesses are expanding into international markets. Shandong Haiwang Chemical Co took a major step in its global strategy by signing an agreement to build an integrated industrial park in Saudi Arabia.
Binhai district has supported both foreign and local enterprises, with 179 foreign trade companies establishing relations with 157 countries. The district has also helped 11 local companies set up overseas warehouses and industrial parks. From January to October, the district cultivated 23 new foreign trade enterprises and achieved a total import-export value of 22.1 billion yuan ($3.05 billion).
Binhai will continue to push for "Weifang enterprises going global" in order to encourage investment in regions like the Middle East and Southeast Asia, while also spurring international cooperation and growth. (Edited by Lin Li)
