Weihai Torch Hi-tech Science Park

Weihai Torch Hi-tech Science Park [Photo/whctp.gov.cn]

Weihai Torch Hi-tech Science Park in Weihai, Shandong province, is a national-level hi-tech zone jointly founded by the Ministry of Science and Technology, the Shandong provincial government and the Weihai government on March 6, 1991 under the approval of the State Council.

Covering an area of 140 square kilometers and with a permanent resident population of 287,700, it is one of the three torch hi-tech development zones around the country.

The park, located in the northwest part of Weihai downtown, boasts convenient transport. It is only 3 km from the downtown, 4 km from Weihai Port, 10 km from Weihai Railway Station, 30 km from Weihai Dashuipo International Airport, and 80 km from Yantai Penglai International Airport.

After years of development, the park has established five industrial clusters in medical apparatuses and instruments, electronic information, fashion design and manufacturing, new materials and products, and intelligent equipment.

In 2017, the park's GDP reached 25.29 billion yuan ($3.67 billion). The prime operating revenue of the industrial enterprises above designated size totaled 102.1 billion yuan, a year-on-year increase of 12.1 percent, ranking third among all the units of Weihai city.

The output value of the hi-tech industries in 2017 accounted for 79.98 percent of that of the city's industries above designated scale. The volume of foreign trade amounted to 23.69 billion yuan in 2017, with a year-on-year growth rate of 8.6 percent, and of which exports accounted for 16.91 billion yuan, three percent higher than that of 2016.

There were 12,828 registered enterprises in the science park by the end of 2017, including 259 foreign-funded ones, 44 enterprises with annual sales revenue exceeding 100 million yuan and two with annual sales revenue of more than 10 billion yuan.

It is expected that the park will achieve industrial sales revenue of 200 billion yuan by 2020 from its two industrial clusters – medical instruments and biological medicine, and electronic information and intelligent equipment.