According to the data recently released by the Qingdao bureau of statistics, the gross domestic product (GDP) of Qingdao's Shinan district, which is located in East Shandong province, reached 112.1 billion yuan ($16.09 billion) in the first three quarters of this year, up 4.8 percent year-on-year.

During the period, there were 85 newly registered domestic-funded projects worth more than 100 million yuan in Shinan and the total volume of foreign capital rushing into the district hit 475 million yuan, up 39.43 percent year-on-year.

Shinan also started 51 key projects at the municipal level in the first three quarters of this year. Among them, the Zhongshan Road area currently has been added to Shandong's urban renewal pilots list and has been selected as a demonstration case for the protection and inheritance of history and culture.

At the same time, new renewal and construction projects are currently underway. With a total investment of more than 38 million yuan, a community renovation campaign that began in September is expected to be completed by the end of March 2023, covering a total area of 209,000 square meters. The campaign is expected to benefit more than 6,800 residents.

Furthermore, Shinan is also striving to improve the employment rate. So far, there have been 29 job fairs held either online or offline in the district, which have prompted more than 800 enterprises to open 227,000 jobs for more than 7,000 graduates.