In 2022, Shinan's gross domestic product (GDP) reached 145 billion yuan ($21.42 billion), ranking among the top districts in Shandong. In 2023, Shinan aims to yield a 5.5 percent increase of its GDP, with the general public budget increasing by more than 6 percent.

In the past year, Shinan introduced two fintech headquarters and two corporate financial institutions, increasing the total of newly added financial institutions to 100. To further boost the economy, Shinan has built a sound industrial system for the development of the digital economy.

To expand consumption in the fashion sector, 20 quality stores were opened in Shinan in 2022. At the same time, Shinan introduced 10 enterprises with a combined total sales volume that exceeded 3 billion yuan, and five regional headquarters enterprises with a combined total revenue that hit 250 billion yuan.

Shinan also utilized platforms to attract overseas enterprises and high-quality projects. In 2022, there were a total of 110 new projects with a combined total value of more than 100 million yuan registered in Shinan. Two of them were valued at more than 5 billion yuan, and one exceeded 10 billion yuan.

Boasting rich natural resources, Shinan continues to promote the quality of tourism. In 2022, the Qingdao International Sailing Center was listed as a 5A-level scenic spot and the old downtown area was regulated by 5A-level scenic spot standards.

Furthermore, the revitalization of the historical streets got underway in 2022. Five streets including Zhongshan Road attracted new businesses to set up shops in the areas, which has greatly boosted the cultural tourism economy in Shinan.