Qingdao West Coast New Area has released its economic development report for the first half of 2024, highlighting a robust year-on-year GDP growth of 6.3 percent, reaching a total output value of 254.89 billion yuan ($35.71 billion).
This figure represents 31.95 percent of Qingdao’s total economic output, underscoring the area's significant contribution to the city's economy.
The industrial structure saw a balanced growth across sectors, with the primary industry's added value at 4.54 billion yuan, up by 4.1 percent. The secondary industry demonstrated a more pronounced growth, with an added value of 82.53 billion yuan, increasing by 8.4 percent. The tertiary industry also showed resilience, with an added value of 167.82 billion yuan, growing by 5.2 percent.
Agriculture, forestry, animal husbandry, and fishery together had a total output value of 7.67 billion yuan, a year-on-year increase of 4.17 percent. The added value of industrial enterprises above a designated size an even faster 10.6-percent year-on-year increase.
Fixed asset investment in the new area exhibited steady growth, with a year-on-year increase of 5.4 percent, indicating a healthy investment climate.
The new area saw 166.36 billion yuan in foreign trade, with exports totaling 74.48 billion yuan and imports reaching 91.87 billion yuan.
The per capita disposable income of residents in the district reached 31,440 yuan, a year-on-year increase of 5.3 percent. Urban residents saw their per capita disposable income rise to 34,309 yuan, growing by 4.9 percent, while rural residents experienced a more substantial increase, with per capita disposable income at 19,749 yuan, up by 6.8 percent.
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