During the 14th Five-Year Plan (2021–25) period, Qingdao's GDP has grown by 500 billion yuan ($71 billion), and is on track to exceed 1.7 trillion yuan this year.  

The city is sharpening its industrial competitiveness through innovation. Four advanced manufacturing clusters — smart home appliances, rail transit equipment, shipbuilding and marine engineering, and instrumentation — have gained national recognition.  

High-tech enterprises and sci-tech SMEs have nearly doubled. High-tech manufacturing value-added has grown at an average annual rate of 15.9 percent, propelling Qingdao to sixth place in China's top 100 advanced manufacturing cities in 2024.  

Major projects are driving the city's high-quality growth, with private investment accounting for over 60 percent of the total investment. Over 2,700 key projects at provincial, municipal, and county levels have been launched, injecting momentum into emerging sectors like integrated circuits, new displays, artificial intelligence, and green energy.  

Qingdao has also deepened domestic and international circulation. Total retail sales rose from 520.4 billion yuan in 2020 to 658.5 billion yuan in 2024, while foreign trade expanded significantly. Since 2021, the city has utilized $18.47 billion in foreign direct investment, enhancing its role in global cooperation.

Qingdao's GDP is expected to exceed 1.7 trillion yuan this year. [Photo/Guanhai News]