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West Coast New Area sees 11.8% growth in GDP| Updated: November 16, 2021

In the first three quarters of 2021, the GDP of Qingdao West Coast New Area totaled 311.21 billion yuan ($48.83 billion), up 11.8 percent year-on-year, official statistics showed.


The Qingdao West Coast New Area [Photo/]

The added value of the primary industry in the area was 7.09 billion yuan, up 6 percent year-on-year. The added value of the secondary industry stood at 115.83 billion yuan, up 9.8 percent year-on-year, while the figure for the tertiary industry was 188.29 billion yuan, up 13.4 percent year-on-year.

The strong development momentum of the tertiary industry is attributed to the fact that the area has in recent years been focusing on digital empowerment and industrial integration, accelerated the development of key industries such as commerce and trade circulation, information technology and modern logistics, and promoted the steady development of the service industry, said local authorities.

From January to September, the total output value of industrial enterprises above designated size in the area reached 283.31 billion yuan, up 22.9 percent year-on-year. The added value of wholesale and retail reached 70.62 billion yuan, up 21.4 percent year-on-year.