Qingdao's foreign trade value totaled 260.91 billion yuan ($38.41 billion) in the first four months of 2022, up 6 percent year-on-year.
Qingdao reported a 9.4-percent year-on-year growth in trade with countries and regions involved in the Belt and Road Initiative, hitting 59.7 billion yuan ($8.9 billion) in the first quarter of 2022.
The eastern coastal city of Qingdao, Shandong province saw a consumption boom during the May Day holiday.
Construction has been accelerated at the Qingdao International Aquatic Products Trading Center and the Cold Chain Logistics Base project in Qingdao West Coast New Area.
Thanks to the tariff reduction policy brought about by RCEP, Qingdao Guihua Knitting Co alone will increase its textile export capacity to ASEAN countries by 21.66 million yuan every year, which will increase the development of other upstream and downstream industries.
Qingdao West Coast New Area (WCNA) recently issued a development plan for its financial industry during the 14th Five-Year Plan period (2021-25).
Qingdao, an economic powerhouse in Shandong province, will cultivate 1,000 key industrial chain enterprises in three years to upgrade and modernize the city's industry chains, local officials said at a recent news conference.
Shinan district in Qingdao, Shandong province, will prioritize the development of the real economy in the next five years, according to the district's CPC congress.