The eastern coastal city of Qingdao boasts a vibrant economy. [Photo/VCG]

In 2021, 1,111 foreign-funded enterprises were newly established in Qingdao, up 6.52 percent year-on-year, according to statistics from the Qingdao market supervision bureau.

As of Dec 31, 2021, there were 13,971 foreign-funded enterprises in Qingdao, with a year-on-year growth of 2.34 percent.

The registered capital of newly established foreign-funded enterprises reached $30.31 billion. Among them, 390 enterprises have registered capital of more than 10 million yuan, accounting for 35.1 percent of the total figure, up 16.77 percent year-on-year.

In 2021, there were 653 foreign-funded enterprises in Qingdao from countries and region involved in the Belt and Road Initiative, up 8.65 percent year-on-year. Among them, 73 were newly established, up 8.96 percent year-on-year.