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Weihai Torch High-tech Science Park

Weihai Torch High-tech Science Park (Weihai THSP) rated “A” by China Knowledge in a research report on China’s industrial real estate published today. The science park was set up with approval from the State Council in 1991. It has an area of 15.1 sq km.

Weihai THSP is 3 km from the city’s downtown area, 4 km from Weihai Port, 10 km from Weihai Railway Station, 30 km from Weihai Airport and 80 km from Yantai Airport. The park is also located near Weihai’s major universities and institutes, which strengthens its capacity for research.

The park encourages investment in high-tech industries. In 2010, GDP from the park reached RMB 14.2 billion, rising 13.1% year on year. The export value from this park was US$8.35 billion.

Weihai is near South Korea and Japan. Many Korean and Japanese investors invest in Weihai because it is easy to ship goods from Weihai to their domestic markets. Electronics and information technology, new materials, biopharmaceuticals and electromechanical integration are the major industries in the zone. The major investors in the four pillar industries are Samsung Digital, Tuozhan Fiber Corp, Weigao Group and Huadong CNC.

Shandong Province chose Weihai as a location for the development of its software industry. The Weihai Software Industrial Base in Weihai THSP is home to 36 software companies. In the first eight months of 2008, revenue in the Software Industrial Base was RMB 380 million, up 30% over the same period of the previous year. The park has strong research capabilities. By the end of 2010, a total of 48 high-tech enterprises had set up R&D centers. Over RMB 350 million was invested in research in 2008.

Industrial parks rated A have above-average investor appeal. Basic conditions are adequate, but improvements are still needed in some areas. There are 50 single A rated industrial parks among 254 rated by China Knowledge since 2003.
Companies Mentioned
Samsung Digital, Tuozhan Fiber Corp, Weigao Group and Huadong CNC
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