On June 5, 2015, Runfar Group Board Chairman Teng Hexian (hereinafter referred to as “Mr. Teng”) led 19 members of Chinese and Foreign Entrepreneurs Alliance (hereinafter referred to as “the Alliance”) to Weihai China-Korea Free Trade Zone for a tour of observation. Participants of this tour included Runfar Group Vice President and the Alliance’s Vice-chairman Cui Jinfu, the Alliance’s Vice-chairman Zhu Zhaofa, the Alliance’s Council Member Teng Yuanjie, the Alliance’s Deputy Secretary General Liu Xiaoyue, Yanbian Chamber of Commerce Chairman Liu Chunzhi, Executive Vice-Chairman Lee Yong Seok, Zheng Jinghua, Gao Fenglie, Korean representatives Chairman of Korea Chamber of Commerce in Yanbian Bak Jong Guk, Hurom Electronics’ Weon Seong Yeon, Korean Logistics Company Project Development Department Head Yoon Seung Hyun, Seoul National University’s Economics Professor Lee Byung Ha, SINOBPO Board Chairwoman Xue Wanjuan, SINOBPO senior management Tian Jingwei, Wang Lifeng, Qu Lihui, etc.

China-Korea Free Trade Agreement was signed in Inchon, the Republic of Korea, on June 1, 2015. It’s a FTA signed by China that involves the largest nation-level trade value and the most complete domains so far. Weihai and Inchon became China-Korea Free Trade Zone Regional Economic Cooperation Demonstration Areas. They bear the responsibility of trying first. China is the Republic of Korea’s largest trade partner. The Republic of Korea is China’s 3rd largest trade partner. The signing of the FTA will further deepen the demonstration areas’ cooperation and exchange in trade in goods, cross-border e-commerce, cultural tourism, life health, modern logistics, etc.

In the afternoon, on June 5, Mr. Teng and his party reached Wendeng District of Weihai, and talked with Wendeng District Deputy Head Gong Bengao over the Free Trade Zone’s investment matters. In the talks, Mr. Gong agreed with and appreciated Mr. Teng idea of investing in his hometown to do what he can to help the hometown’s construction, and promised he would support Mr. Teng’s plan of investing in the Free Trade Zone as always.

After that, guided by Weihai Municipal Bureau of Commerce and the Preparatory Office for the Comprehensive Bonded Zone, Mr. Teng and his party had a field investigation in the bonded zone.

In the morning, on June 6, Mr. Teng met with Wendeng District Head Wu Hongfei, accompanied by Wendeng District Deputy Head Mr. Gong, Weihai Municipal Bureau of Commerce Director General Mr. Lv, Deputy Director General Li Zongwen, etc. Mr. Wu Hongfei appreciated Mr. Teng’s investment plan, saying he would give full support.

The trip to Weihai by Mr. Teng and his party got great support from the Alliance’s local Council Vice-chairman Units in Weihai, as well as Vice-chairmen Wang Bingshan and Meng Hua. In the afternoon, on June 6, Mr. Teng and his party visited Hualong Group’s new site, Diaoyutai Orchard and newly completed clubs on invitation. The entrepreneurs and friends had a merry gathering, giving a perfect end to this trip to Weihai.