Qingdao Port, a branch of Shandong Port Group based in Qingdao, Shandong province, generated an operating revenue of 13.22 billion yuan ($2.02 billion) last year, up 8.7 percent year-on-year, according to the port's annual performance report for 2020 released on March 29.

An aerial view of the fully automated container terminal at Qingdao Port of Shandong Port Group. The port is the first of its kind in Asia. [Photo provided to chinadaily.com.cn]

In 2020, Qingdao Port handled 540 million tons of cargo, an increase of 4.5 percent year-on-year, while its container throughout hit 21.01 million TEUs (twenty-foot equivalent units), an increase of 4.7 percent over the same period of 2019.

Net profit attributable to shareholders of the listed company stood at 3.84 billion yuan, up 1.4 percent year-on-year.

Over the past year, amid the downturn in the global economy and instability of international markets caused by the pandemic, Qingdao Port has taken a slew of measures to deepen supply-side structural reform and ensure growth and improvement to the port's business and services.

The port has been ramping up efforts to serve and be integrated into the new development paradigm featuring dual circulation, in which domestic and overseas markets reinforce each other, with the domestic market acts as the mainstay.

The port has been promoting high-quality growth and innovation-driven development by seizing opportunities brought about by national strategies such as the China (Shandong) Pilot Free Trade Zone, the China-Shanghai Cooperation Organization Demonstration Zone for Local Economic and Trade Cooperation in Qingdao, and the province's efforts in supporting the nation's economic upgrade.

Located at the intersection of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, the Qingdao Port has trade ties with more than 700 ports from over 180 countries and regions in the world.