Yantai makes remarkable improvements in past five years

Yantai, a coastal city of East China's Shandong province, has made great achievements in economic and social development in past five years, successfully realizing major goals set for the 13th Five-Year Plan period (2016-20).

By 2020, the city's GDP is expected to reach 800 billion yuan ($122.34 million), with per capita exceeding 100,000 yuan.

The city's industrial structure has been significantly transformed. By the end of 2019, the proportion of tertiary industry had surpassed the secondary sector for the first time. The tertiary industry has become the new engine of economic growth.

The output value of high-tech industries is expected to exceed 50 percent of the total industrial output value by the end of this year. The number of high-tech enterprises is expected to reach about 1,000.

The city's business environment has also seen significant improvements. For example, the processing time for administrative licenses has been reduced by more than half. Enterprise registration can also be done online.

During the 13th Five-Year Plan period, the Penglai-Qixia, Longkou-Qingdao, Wendeng-Laiyang expressways were opened to the public. The length of expressways opened to traffic and the length of railway service have reached 670 kilometers and more than 600 kilometers respectively.

The cargo throughput of Yantai Port reached 390 million tons in 2019, ranking ninth in China.

The per capita disposable income of the city's residents experienced an average annual growth of 8 percent throughout the past five years, hitting 37,783 yuan in 2019, double the figure in 2010.