The latest data from the Qingdao Statistics Bureau indicate that the city has maintained steady economic progress this year. By balancing stability and growth while leveraging existing and new policy measures, Qingdao achieved overall economic stability with continued improvement from January to October.

Industrial production in Qingdao has shown steady growth with emerging sectors gaining momentum. The added value of large-scale industries increased by 9.4% year-on-year from January to October, surpassing the national and provincial averages by 4.1 and 1.1 percentage points, respectively. 28 out of 35 major industrial categories recorded growth, representing an 80% growth rate. Equipment manufacturing saw a 10.7% rise, contributing 58.7% to the overall industrial growth and accounting for 52.6% of the total industrial output. Notable gains were seen in the manufacturing of railway, shipbuilding, aerospace, and other transport equipment, as well as computer, communication, and electronic equipment, grew by 25.7% and 21.2%, respectively. High-tech manufacturing also reported robust growth, increasing by 11.9%. This sector now comprises 11.9% of Qingdao's total industrial output and contributes 14.8% to the overall industrial growth. Standout performances were seen in the medical instruments and equipment sector, with a growth of 21%, and the electronics and communication equipment sector, which expanded by 16.8%.

The service sector in Qingdao experienced rapid growth with strong performance in production-oriented services. The operating revenue of large-scale service enterprises increased by 13.1% year-on-year in the first three quarters, outpacing national and provincial averages by 5.9 and 6 percentage points respectively. Key subsectors showed notable gains with revenue from leasing and business services rising 13.9% and scientific research and technical services rising 5.6%. Transportation indicators also reflected growth between January and October: air passenger volume rose 24.4%, railway passenger traffic increased 12.1% while road passenger traffic grew 2.7%. Air cargo throughput grew by 9.3%, and port cargo throughput increased by 4.7%.

Investment in key areas accelerated and the consumer market continued to heat up. Fixed asset investment in Qingdao rose by 1.3% year-on-year between January and October with industrial investment surging by 17.9% and industrial technological upgrades increasing by 9.4%. The consumer market continued to heat up as retail sales of consumer goods above the designated threshold grew by 7%. This robust growth was fueled by impressive gains in specific sectors. Sales of new energy vehicles increased by 21.8%, while smart home appliances and audiovisual equipment saw a substantial rise of 49.5%. Communication devices experienced a notable doubling in sales. E-commerce retail sales saw an impressive climb of 29.7%, now accounting for 38.5% of the total retail sales above the threshold.

Qingdao's foreign trade steadily recovered, with improved trade structures. From January to October, the city's total foreign trade value reached 754.72 billion yuan, a year-on-year increase of 3%. Exports grew by 10% to 434.62 billion, while imports declined by 5.2% to 320.1 billion. General trade accounted for 490.01 billion, up 3.3%, representing 64.9% of the total trade volume—a 0.2 percentage point increase over the previous year. Foreign-invested enterprises contributed 145.67 billion yuan, reflecting an increase of 6.8%, while state-owned enterprises recorded 88.54 billion yuan, marking a growth of 13.6%.

Qingdao maintained strong support for public welfare spending and steady financial operations. The city's general public budget revenue reached 117.25 billion yuan from January to October while expenditures totalled 131.19 billion. Spending on public welfare accounted for 74.2% of the total, up 0.7 percentage points from the first nine months. By the end of October, the total balance of local and foreign currency deposits stood at 2.82 trillion, a 4.9% year-on-year increase, with an addition of 104.53 billion since the beginning of the year. Loan balances reached 3.18 trillion, up 7.4% year-on-year, with an increase of 161.25 billion year-to-date.

Qingdao's employment remained stable, and consumer prices saw moderate growth. 345,600 new urban jobs were created between January and October including 241,800 positions for migrant workers, a 17.3% year-on-year increase. The city's Consumer Price Index (CPI) rose by 0.5% year-on-year during the same period. By category, clothing prices increased by 2.6%, housing by 0.4%, household goods and services by 1.1%, and education, culture, and entertainment by 1.8%. Transportation and communication prices declined by 2.4% while medical care rose by 0.2%, and other goods and services saw a 5.5% increase. The CPI increased by 0.6% year-on-year in October alone.