On Oct 22, Shandong announced this year's list of the top 100 enterprises from the province's 14 cities at an industrial investment and financing conference held in Qingdao city.

The total operating income of the top 100 Shandong enterprises in 2024 exceeded 8 trillion yuan ($1.12 trillion) – up 9.39 percent year-on-year and marking a new milestone in revenue. There are a total of 18 companies with operating income exceeding 100 billion yuan.

In terms of assets, Shandong Hi-Speed Group Co Ltd, Hengfeng Bank, and Shandong Energy Group represent the top three companies, with assets exceeding 1 trillion yuan. Qingdao Bank closely follows, with assets totaling 607.85 billion yuan, ranking fourth among the top 100 enterprises. Haier Group's total assets amount to 521.61 billion yuan, ranking fifth.

A total of 21 companies from Qingdao are among the list of the top 100 Shandong enterprises in 2024, which is four more than last year. The number of companies included is the same as Jinan, accounting for over a fifth of the entire province and tying for first place. Among the Qingdao companies, six are new entrants. The Qingdao West Coast New Area has eight of the top 100 Shandong enterprises, the highest among all districts and cities in the city.

As part of its wheelhouse, the Qingdao West Coast New Area boasts the Dongjiakou high-end chemical industry base, the Wangtai textile machinery industry base, the Haixi Bay ship and marine industry base, and the home appliance and electronics industry base. The area also supports the development of new industries and the cultivation of new productive forces in Qingdao.