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Mount Tai Attracts Foreign Investors
Visitors to Mount Tai will soon be able to munch on McDonald's while they survey their beautiful surroundings,according to today's China Daily.
McDonald's and other overseas investors are beginning to see the potential of this popular city, Lin Huayong, vice-mayor of the city of Tai'an in East China's Shandong Province, said.
During the opening ceremony of its 15th International Mountain-climbing Festival on Thursday, the city announced it had signed 10 overseas investment projects totalling over US$20 million. World fast food giant McDonald's has invested US$1.2 million.
Lin said the strong tourism market in Tai'an has attracted world-renowned companies to settle in this inland city.
Mount Tai is one of the most well-known mountains in the country. The mountain attracts more than 4 million people including 300,000 foreigners each year, bringing in an annual income of 2.5 billion yuan��US$302 million��.
In addition to its robust tourism industry, Tai'an also produces agricultural products, such as chestnuts and walnuts. The region is also rich in mineral resources with gesso reserves of over 35 billion tons and salt reserves of over 7.5 billion tons.
Lin said Mount Tai has attracted investors from more than 30 countries and regions. More than 820 projects with contracted foreign funds of US$900 million are already under way in Tai'an. One-fourth of the projects are related to Mount Tai tourism and resource development.
The influx of foreign capital and visitors has strengthened the city's foreign trade. In the first half of this year the total value of import and export increased by 50 per cent from the same period last year. This year's imports and exports are expected to reach US$300 million with exports accounting for US$200 million.
According to Lin, the city will continue to use tourism to attract foreign funds in the next five years.
The vice-mayor said construction of the Tai'an Tariff-free Logistics Centre, which increases import-export flow and efficiency, is under way and will begin operation later this year. He also said the expressway network in Shandong Province has improved transport in the city, further facilitating foreign trade.
In August and early September the city held promotional conferences in Beijing, Shanghai and Xiamen.
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