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Qingdao's GDP up 13.8% in H1

(chinadaily.com.cn) | 2021-07-26

The gross domestic product of the eastern hub of Qingdao, Shandong province totaled 653.92 billion yuan ($101.03 billion) in the first half of the year, a year-on-year growth of 13.8 percent, the municipal government information office announced at a news conference on July 26.

Despite the impact of the COVID-19 epidemic, the city's average annual GDP growth for the past two years reached 6.7 percent, said authorities.

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Qingdao boasts a vibrant economy. [Photo/VCG]

In the first half of 2021, the added value of the city's primary industry reached 21.39 billion yuan, a year-on-year growth of 7.2 percent and a two-year average growth of 3.8 percent.

The added value of its secondary industry stood at 224.49 billion yuan, with a year-on-year growth of 13.2 percent and an average growth of 6.3 percent in two years.

Meanwhile, the added value of the tertiary industry was 408.03 billion yuan, a year-on-year growth of 14.5 percent and a two-year average growth of 7.1 percent.

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Foreign cargo ships dock at the Qingdao Port, Shandong province. [Photo/VCG]

Over the period, the added value of agriculture, forestry, animal husbandry and fishery increased by 7.2 percent year-on-year, 2.7 percentage points higher than that of the first quarter. The two-year average growth rate was 4 percent.

The added value of industrial enterprises above designated size increased by 16.4 percent year-on-year, a two-year average growth of 7.3 percent.

From January to May, the city's service enterprises above designated size achieved a business revenue of 117.57 billion yuan, up 42.2 percent year-on-year. The operating revenue of internet and related service enterprises above designated size increased by 53.6 percent year-on-year.

Online transactions have boosted the express delivery business. In the first half of this year, the total postal business reached 4.23 billion yuan, up 39 percent year-on-year and an average growth of 28.7 percent in two years.

The total retail sales of consumer goods reached 254.21 billion yuan, with a year-on-year growth of 23.5 percent and a two-year average growth of 5.9 percent.

During this period, the city's foreign trade reached 397.52 billion yuan, up 39.6 percent year-on-year and an average growth of 19.2 percent in the two years.