Qingdao boasts a vibrant economy in Shandong province. [Photo provided to chinadaily.com.cn]

In the first three quarters of 2023, Qingdao's GDP reached 1.18 trillion yuan ($160.82 billion), a year-on-year growth of 6 percent, local officials announced at a news conference on Oct 30.

During this period, the added value of the city's primary industry totaled 36.08 billion yuan, an increase of 3.2 percent year-on-year. The added value of the secondary industry reached 391.15 billion yuan, a growth of 5.2 percent, while the added value of the tertiary industry amounted to 749.68 billion yuan, a growth of 6.5 percent.

In the first three quarters of the year, the total output value of agriculture, forestry, animal husbandry and fishery in Qingdao hit 66.94 billion yuan, an increase of 3.9 percent year-on-year.

The added value of industrial enterprises above designated size in Qingdao increased 5.7 percent year-on-year while the added value of the city's high-tech manufacturing industry increased 15.9 percent year-on-year.

During this period, the added value of the service industry in Qingdao increased 6.5 percent year-on-year, accounting for 63.7 percent of the GDP.

Fixed-asset investment in Qingdao rose 4.3 percent year-on-year during this period. Investment in strategic emerging industries and high-tech industries both increased 27.9 percent.

In the first three quarters of this year, the total retail sales of consumer goods in Qingdao totaled 431.42 billion yuan, an increase of 7.2 percent year-on-year.

During this period, Qingdao's foreign trade value was 663.07 billion yuan, up 7.3 percent year-on-year.

In the first three quarters, 319,000 new urban jobs were created in Qingdao, up 2.2 percent year-on-year. The per capita disposable income of Qingdao residents was 42,787 yuan, up 6.1 percent year-on-year.