Wei Fang - Economy

Economy

Weifang Binhai Economic & Technological Development Area (BEDA).

Established in August 1995, Weifang Binhai Economic & Technological Development Area (BEDA) is a national economic and technological development area approved by the State Council. Covering an area of 677 km2 (261 sq mi), BEDA has a population of 100,000. BEDA possesses a large state-owned industrial land for use with an area of 400 km2 (150 sq mi). The land can be transacted conveniently which would guarantee the demand of any project construction and provide broad development space for the enterprises in the area. Continuously, BEDA has been accredited as National Demonstration Zone invigorating the Sea by Science and Technology, National Innovation Base for Rejuvenating Trade through Science and Technology and National Demonstration Eco-Industry Park.

The city is home to the large diesel engine company and factory Weichai. The village of Yangjiabu in Hanting District is famous for folk wood-block print (nianhua) and kite production.

In 1980's, a large sapphire mine has been discovered in Changle (昌乐县). According to released information, billions carats of sapphire is estimated under the 450 sqkm mine territory. It becomes one of top four sapphire mine in the world.