Qingdao City

Best known for its Tsingtao Brewery, Qingdao has bragged one of the fastest GDP growths among cities in China during the last decade. Qingdao’s economic success has been bolstered by flourishing local business and large foreign direct investment, due in part from geographic proximity to Japan and Korea and cultural ties as a former German colony. Qingdao is also a significant as coastal port city, with the country’s fifth-largest and the world’s seventh-largest seaport.

Pillar industries consist of electronics, petrochemicals, automobiles, machinery, metallurgy, building materials, biopharmaceuticals, textiles and garments, and food- and beverage-processing. Taking advantage of national policies, particularly tax deductions on fixed asset spending, Qingdao has announced a three-year initiative to boost technology upgrading in the city’s enterprises. Additionally, the city appears to be advancing in high-tech production, which already accounts for almost half of its industrial sector.

Qingdao City Quick Facts

Area
10,654 km2
Population:
7.6 million
Gross domestic product:
566.62 billion RMB
GDP growth:
12.9%
Fixed Asset Investment:
302.25 billion RMB
Utilized Foreign Direct Investment:
2.84 billion US$
Imports:
59.24 billion US$
Exports:
59.88 billion US$

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Top 5 Qingdao City Companies

Qingdao Haier Co (SHA: 600690) is engaged in the manufacture and distribution of household electrical appliances. It posted RMB60.59 billion in revenues and RMB2.03 billion in net profits for 2010.
Hisense Electric Co (SHA: 600060) is engaged in the research, development, manufacture and distribution of household electrical appliances. It posted RMB21.26 billion in revenues and RMB834.91 million in net profits for 2010.
Hisense Kelon Electrical Holdings Co (SHA: 000921) is engaged in the development, manufacture and distribution of home electrical appliance. It posted RMB17.69 billion in revenues and RMB585.28 million in net profits for 2010.
Tsingtao Brewery Co (SHA: 600600) is engaged in brewing and distribution of beer. It posted RMB19.9 billion in revenues and RMB1.52 billion in net profits for 2010.
Shandong Hiking International Co (SHA: 600735) is engaged in international trading business. It posted RMB1.44 billion in revenues and RMB13.67 million in net losses for 2010.

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