According to the newly-unveiled data from the Qingdao Municipal Bureau of Statistics, in the period from January to February, Qingdao accelerated its efforts to transform the growth mode, adjust the economic structure, improve the quality and efficiency, and made steady headway on major economic indicators.

Industrially speaking, the added value of Qingdao’s industrial enterprises above designated scale in January to February saw a year-on-year increase of 11.8%, 6.0 percentage points faster than the growth rate in 2023. Among 35 sectors, 25 sectors saw growth, representing 71.4%, 11.4 percentage points higher than the proportion in 2023. Notably, high-tech manufacturing has shown competitive edges, and the added value of high-tech manufacturing industry above designated scale has maintained a double-digit growth for 11 consecutive months.

Investment, consumption and export all trended upwards. From January to February this year, fixed asset investment in Qingdao increased 5.4% year on year, 0.4 percentage points faster than in 2023; the retail sales of consumer goods of enterprises above designated scale saw a year-on-year growth of 13.2%, 6.0 percentage points faster than in 2023. In regard to imports and exports, over the period, Qingdao’s imports and exports totaled RMB 125.8 bln, a year-on-year increase of 5.4%, 0.8 percentage points faster than the growth rate in 2023.  (Liu Lanxing)