Qingdao's economy posted stable growth in the first two months of 2022 despite epidemic resurgences and a complicated external environment, according to official data from the Qingdao Municipal Statistics Bureau.

Qingdao boasts a vibrant economy. [Photo provided to chinadaily.com.cn]

Investment in the city's primary industry, secondary industry and tertiary industry increased by 61.9 percent, 35.7 percent and 1.4 percent, respectively. Investment in manufacturing grew by 35.3 percent, infrastructure investment by 0.9 percent and investment in real estate development by 3.3 percent.

From January to February, Qingdao's fixed asset investment grew by 8.3 percent year-on-year, 4.2 percentage points more than that in 2021, marking a good start of the year.

One hundred and sixteen new projects were initiated in the city during this time, an increase of 1.3 times year-on-year.

"The investment structure of Qingdao is being further optimized," said Li Yong, an official from the Qingdao Municipal Statistics Bureau. "Investment in the real economy continues to grow rapidly. From January to February, industrial investment in the city increased by 35.7 percent, becoming the main growth point of investment in the city."

Investment in the city's "Four New Economy" (new technology, new business pattern, new development mode, and new industry) increased by 33.5 percent year-on-year, the high-tech industry investment increased by 39.9 percent, and the investment in technological transformation in the manufacturing industry increased by 48.6 percent.

Qingdao's foreign trade volume reached 132.1 billion yuan ($20.89 billion) in the first two months of the year, up 14.3 percent year-on-year and accounted for 29.5 percent of the provincial total.