Jiaodong Online August 17, 2020 (Reporter: Jia Chuhang Correspondent: Ma Shuangjun, Wang Cong, Zhu Xianjun)

　　More than 7500 new market entities have been registered; Advanced structural materials and biomedicines have been included in the first batch of national strategic emerging industries; A large number of innovative administrative processes have been introduced and implemented, of which 60% were initiated in Shandong or China…

　　These are some of the achievements of the Yantai Free Trade Area since it was established on August 31 last year. Characterized by entrepreneurship, innovation and a pioneering spirit, it has maintained rapid and sound development over its first 12 months. Staying ahead of the curve in reform and opening up in the new era, Yantai can look back at a series of remarkable achievements on the first anniversary of the Yantai Free Trade Area.

　　A Groundbreaking Free Trade Pilot, A Trailblazer for Reform

　　Yantai Free Trade Area was set up as a trailblazing example of national administrative innovation designed to promote regional development.

　　What is the best way to design and implement new administrative processes that can be replicated? Zhang Shuping, Secretary of CPC Yantai Municipal Committee, emphasizes: “Yantai Free Trade Area should base its plans on reality, identify new ideas, be ambitious and determined, implement sound measures, search for new paths with unique features, and take the lead in this new round of developing free trade areas.”

　　Last October 17, Ms. Beak Yun Soo, a Korean investor in Shandong Mi Mi Biotechnology, received her company license in the Shandong Pilot Free Trade Zone Yantai Area in Seoul, ROK. “I was able to get my business license and a set of free company seals without going abroad,” she said with excitement. “This kind of service convenience gives us every confidence in our future investment in Yantai!"

　　This was the first business license issued abroad by Yantai Free Trade Area. It is also a pioneering example of government services being delivered abroad.

　　The event took place only six weeks after the establishment of Yantai Free Trade Area.

　　The rapid introduction of administrative innovations is a positive and encouraging development.

　　Building on "overseas approval", more services are now being provided overseas. Yantai Free Trade Area provides two-way consulting services through online and offline channels to lower the costs of overseas operations resulting from administrative complexity. Investors can complete all the necessary procedures without leaving home. A license for Yantai Free Trade Area can be obtained in as little as 5 days.

　　On February 20 this year, the Investment Promotion Office of Yantai Free Trade Area in ROK issued limited company business licenses in Seoul to Liyuansha (Yantai) Technology and Lufu (Yantai) Electronic Technology. These are successful examples of the “Yantai Plan” for overseas approval that are essential to facilitate cross-border investment and economic and trade cooperation in the post-COVID 19 era.

　　To date, Yantai Free Trade Area has provided overseas approval services for 11 companies from ROK, Japan, Malaysia, and Hungary.

　　In addition to the facility for online overseas approval, Yantai Area has launched 20 Opinions on Promoting the Development of Free Trade Area and Further Optimizing Government Services. Having implemented the necessary measures, 88% of the administrative procedures involved can be processed and completed as quickly as anywhere else in the country. Meanwhile, a series of new measures have been taken to reduce the time needed for other government services such as the One Stop service, and to arrange for all the licenses needed for starting a business to be processed simultaneously.

　　Proactive planning and an enterprising spirit lead to innovative breakthroughs. Over the past year, a large number of innovative administrative processes have been introduced and implemented, of which 60% were initiated in Shandong or China. Dozens of these have been replicated or implemented beyond Yantai. A new process has been published on the official website of the Ministry of Commerce, to substitute a single report where four were required in the past (feasibility study, project application, energy efficiency report, risk analysis for social impact, soil and water conservation plan), with only one review document being issued. It also offers one-stop government services for construction projects, and is the first of its kind in China.

　　Unique Positioning and Rapid Reshaping

　　Before Yantai Free Trade Area was approved, there were already 12 pilot free trade zones across the country, which had the advantage of being “early movers”.

　　Competing with these pacesetters, and with many more free trade areas to be set up, as well as the other 5 pilot free trade zones approved at the same time, not to mention Ji’nan Area and Qingdao Area in the province, how can the Yantai Area "stand out"?

　　Mu Shuqing, Secretary of the Working Committee and Director of the Administrative Committee of YEDA, and Director of the Administrative Committee of Yantai Free Trade Area, provides the answer: "The role of Yantai Area as defined by the national authorities is to expand China-Japan-ROK regional cooperation and to be a pioneer for China-ROK cooperation in trade and investment. We will direct all or attention to this target to serve the national strategy." Yantai Area requires precise positioning to forge ahead and use its strengths to attract more emerging businesses and industries.

　　Implementing decisions requires resolute action. With a clear positioning, Yantai Free Trade Area is moving up through the gears. China-ROK (Yantai) Industrial Park is major advantage. Within the Park, “Two Countries, Twin Parks”—a joint development scheme with industrial chain cooperation as its core—will be a feature. It will also support the development of China-ROK Technology and Innovation Incubation Base, implement shared standardization between China-ROK, and facilitate reciprocal trade between China, Japan and the ROK.

　　Forging Ahead with Determination and Achieving Fruitful Results.

　　On April 3, Yantai Area signed a contract online with Onnuri Law Firm, a Korean legal entity. It is the first foreign law firm to enter Yantai Area.

　　On April 9, Shandong Province’s first wholly Korean-owned vocational training institute arrived in Yantai Area. Yantai Area was the first to release new measures for wholly foreign-owned vocational training institutes in the country. These include allowing direct applications from natural persons, and accepting applications at any stages even when materials are not yet complete.

　　Area statistics shows that over the past year, newly settled Korean-funded projects in Yantai Area have more than doubled on a year-on-year base, making Yantai Area one of the regions with the highest concentration of Korean enterprises in China.

　　At the same time, the China-Japan Industrial Park has been launched, with the phase one area covering 2.7 square kilometers. The Park focuses on new-generation information technology, high-end equipment manufacturing, and modern service industries such as global testing, cross-border sales, and international settlements. There are more than 20 foreign enterprises in the Park representing accumulated actual utilization of foreign capital of about 600 million US dollars.

　　In addition to geographical advantages, marine economy is another advantage of Yantai Area.

　　Focusing on "building a modern marine industry base" and seeking a greater breakthrough in "marine economy", Yantai Area has offered several unexampled initiatives in China such as the establishment of a modern base for introducing and transferring marine germplasm resources, “comprehensive conservation” for marine biological resources through coordinated cooperation among the government, business, society and research institutions, the standardization of risk assessment for ocean ranch financing, etc.

　　This April, Yantai Jinghai Marine Fishery Co., Ltd., with an investment of over 10 billion RMB yuan and CIMC, a Fortune China Top 500 company as one of its investors, officially settled down in Yantai Free Trade Area. The company, taking the approach of “manufacturing+service” of offshore equipment, is to establish the largest industrialized marine aquaculture base in Asia.

　　The continuously improved innovation-friendly climate has attracted more investment and talents.

　　Yantai Area is a land of innovation and openness as a series of innovative ideas have been put into practice. The network of Yantai Free Trade Area has been steadily and continuously expanded since more foreign investors and talents have been attracted by the innovation-friendly climate and adequate services here. .

　　On February 29, Park Jin Woong, the Consul-General of the Republic of Korea in Qingdao, made a special trip to Yantai to send the Letter of Thanks from Korean Business Investment Enterprise Branch to the Warmhearted Chinese Neighbors in Bihailvzhou Community. The letter was to express gratitude to the residents of the community for raising funds to buy daily necessities for their South Korean neighbors in quarantine. It has been made clear in the letter that Korean businessmen regard Yantai Free Trade Area as their second hometown, and they are willing to make their contribution, and encourage more Korean enterprises to invest and settle their businesses in the area.

　　Time and tide wait for no man. Seizing the opportunity and racing against time have become an attitude for everyone in pursuing the development of the Area. In 2019, principal leaders of Yantai actively promoted Yantai Free Trade Area at home and abroad so as to attract investment from domestic and foreign enterprises, and considerable progress and accomplishment have been achieved.

　　On the morning of February 13 this year, the land transfer of C&M’s production base for electronic parts of new energy vehicles was completed. The project was invested by C&M Co., Ltd. from ROK ,the first project invested by a Fortune 500 Company in Yantai Free Trade Area. By far, more than 4,500 domestic and foreign enterprises have set up business here.

　　Inflow of Talents

　　How to attract the best and brightest? Over the past year, with a series of brand new measures being taken, more talents have been attracted to Yantai Area than ever.

　　Since last year, there has been 50 high-level talents registered at provincial or national level in Yantai Free Trade Area. A Nobel Prize winner has decided to work full-time in Yantai Area, an unprecedented cooperation between Yantai and Nobel Prize Laureates. With over 260 newly granted patents, the total number of patents in the period of validity has exceeded 1600, and its average ownership for every 10,000 people has exceeded 40 in Yantai Area.

　　The talents need ample scope for their abilities. For this, a platform for talents, on the basis of Bajiaowan Central Area for Innovation, the Area for Marine Economic Innovation, YEDA Intelligence Valley and Human Resources Service Park, has been set up, where there are high-end scientific research institutions and industry-education integrated institutions such as the Incubation Center of Chinese Academy of Sciences and Huawei Artificial Intelligence Innovation Center. In addition, a number of bases and centers for innovation, incubation and entrepreneurship have been founded for overseas talents including Canada Biotechnology Innovation Center, China-South Korea Cooperation Base for Scientific Innovation and Incubation, and China-Russia Innovation Center for Marine Technology. Since last year, 16 platforms for innovation have been newly established including one national platform and 13 provincial ones. Up till now, there are 232 R&D platforms in the Area.

　　At present, a large number of skilled talents of passion at home and abroad are becoming the key players in innovation and entrepreneurship. They are dedicating their wisdom and strength to the Yantai Area of 29.99 square kilometers for a better future with vitality and vibrancy.