The Laiyang Economic Development Zone in Shandong Province was established in 1992 and underwent reorganization at the end of 2003. It now shares administrative offices with Fenggezhuang Subdistrict, with both entities operating as a single entity in their external dealings.The current planned area covers 75.9 square kilometers, with a built-up area of 18 square kilometers. The district has a total population of 100,000 and is home to 477 enterprises with a total investment of 29 billion yuan. Among these, there are 6 enterprises with investments exceeding 1 billion yuan and 23 with investments exceeding 100 million yuan; 463 enterprises are currently in operation.
The park has established a development framework centered on a “five horizontal, five vertical” layout. It has planned and constructed six industrial parks—covering automobiles and auto parts, biotechnology and high-tech, new materials, electronics and information technology, modern logistics, and the private sector—as well as a residential cluster. This has fostered four leading industries: automobiles and auto parts, biotechnology and high-tech, new materials, and electronics and information technology. It is the most developed cluster for these four industries among counties and districts on the Shandong Peninsula.By the end of 2010, the park ranked 15th in the comprehensive index among the province’s 144 provincial-level development zones. It was recognized by the Yantai Municipal Party Committee and Municipal Government as an “Advanced Unit for Opening Up” and an “Advanced Park for Open Development” during the 11th Five-Year Plan period.