The GDP of Qingdao, a coastal city in Shandong province reached 1.24 trillion yuan (about $191.96 billion) in 2020, an increase of 3.7 percent over the previous year when calculated at comparable prices, according to official statistics.

The added value of the city's primary industry totaled 42.54 billion yuan, an increase of 2.6 percent year-on-year. The added value of its secondary industry stood at 436.16 billion yuan, up 3.0 percent while the added value of the tertiary industry recorded 761.36 billion yuan, up by 4.1 percent.

The eastern coastal city of Qingdao, Shandong province [Photo/VCG]

During the 13th Five-Year Plan period (2016-20), the city's GDP grew at an average annual rate of 6.5 percent, and its industry structure was adjusted from 4.1:40.5:55.4 in 2015 to 3.4:35.2:61.4 in 2020.

Last year, the local government continued to promote rural revitalization and facilitate the "vegetable basket" project to enrich food supplies by increasing the production of foodstuffs.

The city's total grain output reached 3.05 million tons in 2020, an increase of 0.7 percent over the previous year, while its output of pigs, cattle, sheep and poultry hit 480,000 tons. The total output of vegetables reached 6.56 million tons.

Last year, the city launched a series of measures and policies to help local enterprises resume production and work as well as attract investment and projects amid the pandemic.

The added value of industries above designated size in Qingdao last year increased by 5.5 percent year-on-year.

The development of pillar industries in the service sector has been accelerated. In the first 11 months of 2020, the operating revenue of services above designated size in Qingdao reached 210.81 billion yuan, up 8.5 percent year-on-year.

Transportation, warehousing and postal services showed steady growth, with revenues hitting 112.84 billion yuan in the first 11 months of 2020, up 14.4 percent year-on-year.

The city also hosted a series of activities to stimulate consumption. Last year, the total retail sales of consumer goods in Qingdao reached 520.35 billion yuan.

The city's foreign trade volume reached 640.7 billion yuan last year, an increase of 8.2 percent year-on-year. Its exports stood at 387.68 billion yuan, up 13.7 percent, while imports totaled 253.02 billion yuan, up 0.7 percent.

The local government intensified efforts last year to improve the social security system and keep employment stable. A total of 447,500 new urban jobs were created in 2020, up 7.5 percent over the previous year.