Qingdao's economy maintained stable growth from January to November this year, as the local government has effectively coordinated epidemic prevention and control and economic and social development and promoted the implementation of package policies and measures to stabilize the economy.

Qingdao's economy maintains stable growth. [Photo/VCG]

Official statistics showed that major indicators such as industry, investment, imports and exports continued to improve in the city, confirming that Qingdao's economy was still experiencing steady and solid growth.

Over this period, the added value of industrial enterprises above designated size increased by 4.3 percent year-on-year in Qingdao, while the added value of high-tech manufacturing industries above designated size increased by 19.6 percent year-on-year.

Fixed asset investment rose 4.4 percent year-on-year. Infrastructure investment rose 20.1 percent, and investment in strategic emerging industries and high-tech industries grew by 16.4 percent and 30.2 percent, respectively.

From January to November, the total value of the city's imports and exports reached 820.32 billion yuan ($117.55 billion), up 6.8 percent year-on-year. The exports value was 480.67 billion yuan, up 9.4 percent, while imports reached 339.65 billion yuan, up 3.2 percent.

Containers are unloaded at Qingdao Port, Shandong province. [Photo/VCG]

Private enterprises continued to dominate the city's foreign trade. Over this period, the imports and exports value of private enterprises reached 569.61 billion yuan, up 11.2 percent year-on-year and accounting for 69.4 percent of the city's total foreign trade.

The city's trade with RCEP member countries increased by 10.8 percent year-on-year, while its trade with countries involved in the Belt and Road Initiative and SCO member states increased by 22.2 percent and 28.1 percent, respectively.