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Last updated at: (Beijing Time) Saturday, March 22, 2003

Manufacturing Grows into Leading Sector in Qingdao

Manufacturing has flourished to become the leading industry in the coastal city of Qingdao, east China's Shandong Province.


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Manufacturing has flourished to become the leading industry in the coastal city of Qingdao, east China's Shandong Province.

In 2002, local industrial enterprises registered 206.4 billion yuan (24.58 billion US dollars) in output value, up 22 percent on a yearly basis, and 54.2 billion yuan (6.53 billion dollars) in added value, up 18 percent from a year earlier.

The sector earned 6.84 billion yuan (823 million dollars) in profits, an increase of 14.6 percent on the 2001 figure.

Xia Geng, Mayor of Qingdao, one of the country's traditional industrial bases, said China's accession to the WTO and the advancement of economic globalization provided new opportunities for Qingdao to increase its presence worldwide.

In recent years, Qingdao had focused on the construction of manufacturing bases and the optimization of production structure, said Xia.

In the downtown areas, priority was given to the environment-friendly, high-profit and labor-intensive industrial projects.

Such industries as electronic information, bio-pharmaceuticals,automobiles, ship-building, electronic equipment, machinery, fine chemicals, and building materials, were sited in the industrial park and economic and technology development zone, on the city outskirts.

Qingdao has had more than 40 local projects added to the list of major technology-innovation items nationwide.

In 2002, new products developed locally accounted for 26.8 percent of industrial output value in Qingdao, with high-tech products accounting for more than one third of local industrial output.


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