Updated : 2015-01-23
|A port in Yantai [Photo by Ju Chuanjiang/chinadaily.com.cn]|
Yantai has been witnessing rapid economic development over the past 30 years since China's reform and opening-up. Economic strength and industrial foundation have been greatly improved. In 2011, the city’s GDP amounted to $77.9 billion with per capita GDP of nearly $11,000. Its total economy ranked second in Shandong province and 20th nationwide. The proportions of the primary, secondary and tertiary industries in GDP are 7.4-to-57.7-to-34.9.
Yantai is a cradle of national industries. Changyu wine, Polaris watches and Tri-circle locks are well known in China and abroad.