Qingdao sees GDP rise 3.7% in H1

( | 2022-07-28

Qingdao city in Shandong province saw its gross domestic product grow 3.7 percent year-on-year in the first half of 2022, hitting 707.04 billion yuan ($104.78 billion), according to local statistics authorities.


Qingdao boasts a vibrant economy. [Photo/VCG]

The added value of the primary, secondary and tertiary industries was 22.36 billion yuan, 243.16 billion yuan, and 441.52 billion yuan, respectively, representing a year-on-year growth of 2.4 percent, 1.5 percent, and 4.9 percent.

In the first six months of this year, the city's overall agricultural economy was stable, and the output of cash crops continued to grow. The added value of agriculture, forestry, animal husbandry and fishery industries in Qingdao increased by 2.5 percent year-on-year. The total output of vegetables and edible fungi was 1.89 million metric tons, up 1.5 percent, while the output of main livestock and poultry meat, egg and milk amounted to 499,100 tons.

The added value of industrial enterprises above designated size increased by 4.1 percent year-on-year during this period, and the output of new energy vehicles, electronic computers, optoelectronic devices and other products also showed steady increases. New growth drivers continued to play an important role in driving up industrial growth during the first six months, and the added value of high-tech manufacturing grew by 21.1 percent.


Qingdao Port is one of the busiest ports in the world. [Photo/VCG]

In the first half of this year, the added value of the service sector in Qingdao increased by 4.9 percent year-on-year, accounting for 62.4 percent of the city's GDP.

The development of modern service industries accelerated from January to May, with professional and technical services and R&D and design services growing by 34.9 percent and 32.7 percent, respectively, year-on-year.

In the first half of this year, fixed-asset investment in Qingdao grew by 4.6 percent year-on-year, 3.4 percentage points higher than in the January-to-May period. Investment in high-tech manufacturing and strategic emerging industries increased by 12.3 percent and 11.1 percent, respectively.

The total retail sales of consumer goods reached 256.65 billion yuan, up 1 percent.  

Qingdao's imports and exports volume rose by 2.7 percent year-on-year to 410.06 billion yuan from January to June, accounting for 26.1 percent of the province's total.

During this period, 180,400 urban jobs were created in Qingdao, accounting for 51.5 percent of the annual target.

The per capita disposable income of the city's residents was 27,119 yuan, an increase of 4.2 percent year-on-year. The per capita disposable income of urban residents was 30,837 yuan, up 3.3 percent, and the per capita disposable income of rural residents was 17,005 yuan, up 4.7 percent.