The Municipal Party Committee of Qingdao, Shandong province, hosted an economic work conference on Dec 28, during which it summarized the efforts made to drive the economy in 2023 and proposed key tasks for the coming year. 

According to officials, Qingdao made good progress in key tasks such as the development of the real economy, investment promotion, as well as urban renewal and urban construction.

The economy continued to recover and consolidate in 2023. In the first three quarters, the city's GDP grew by 6 percent, 0.8 percentage points higher than the national level. From January to November, the city's public budget revenue increased by 5.5 percent, the added value of industries above designated size increased by 5.5 percent, and fixed asset investment increased by 4.9 percent.

For the coming year, authorities will continue to focus on building a modern industrial system by strengthening scientific and technological innovation, promoting the upgrading of key industries, strengthening the attraction of high-quality projects, and creating new advantages for high-quality development.

Qingdao authorities will also continue to improve the quality of urban functions. For example, efforts will be made to improve the level of urban planning and construction governance, as well as promote new urbanization construction and regional development.