Yantai Port is a powerful engine of Yantai’s economic development. During the "Eleventh Five-Year" period, Yantai Port Group has accumulatively paid various taxes and levies of RMB 2.10 billion yuan, and created 300,000 jobs.
Yantai Port is a powerful engine of Yantai’s economic development. Yantai considers the port as its core strategic resources, and includes Yantai Port into the overall layout of the city’s economy for planning. Yantai Port Group actively integrates itself into the city's economic and social development, builds a modern logistics platform, and becomes an important driving force of the "mode-transferring and structure-adjusting" of the regional economy. The port construction promotes the development of the port service industry, increases the scale and level of human flow, logistics and capital flow, enhances the function of the city's transportation hub, and thus fulfilling the beneficial mutual promotion of the city and its port.
During the "Eleventh Five-Year" period, Yantai Port Group has accumulatively paid various taxes and levies of RMB 2.10 billion yuan, and created 300,000 jobs.
In 2010, the contribution of Yantai Port Group to the city reached more than RMB 20 billion yuan, with its income from main operations of the port service industry of Yantai Port reaching RMB 500 billion yuan, accounting for a percentage of up to half of the industrial economy of Yantai.
Yantai Port is an important breakthrough for the economic development of the Bohai Sea Rim. Following the Pearl River Delta and the Changjiang River Delta, the Bohai Sea Economic Rim has become one of the most vigorous economic sections of China. Shandong Province is devoting every effort to implement the three major strategies: a blue peninsula economic zone, a high-end industrial clustering area, and the Yellow River Delta high-efficiency ecological zone. In recent years, Yantai has been actively promoting the construction of the manufacturing base in Jiaodong Peninsula. Yantai Port has become a bridgehead and an important carrier for the implementation of regional economic development. China is planning to construct and perfect the Bohai Bay thoroughfare across the sea. Yantai Port will be bound to play a more important strategic role in connecting Shandong Peninsula, Liaodong Peninsula and Tianjin Binhai Economic Zone, and improving the layout of China's coastal ports.
Yantai Port is the core platform of Northeast Asia economic circle. With a group of ports at the south coast of the Bohai Bay, Yantai Port, as a transportation hub, occupies the center of Northeast Asia economic circle; and as the engine of blue economy, feels the pulse of economic development of Northeast Asia. The Chinese government fixes the starting port of China-South Korea transnational marine train ferry project at Yantai. Relying on the leading Japanese and South Korean lines and service advantages, Yantai Port has become the bridgehead of the new Eurasian Continental Bridge connecting Japan and South Korea with Europe.