Qingdao Bureau of Statistics and Qingdao investigation group of National Bureau of Statistics jointly released the economic performance of Qingdao in 2014. Faced with severe domestic and foreign economic environment, Qingdao’s economy runs smoothly in the “new normal”.

According to Wang Dongxiang, deputy director of Qingdao Bureau of Statistics, after the economy enters a new normal, the growth of GDP in Qingdao is not that low. Seen from national and international economic situation, economy has been in a downturn. The growth of GDP in China is about 7.4% while Qingdao is 0.6% higher than this. Liu Wenjian, professor of Party School in Qingdao said that the figure is predictable, since economy in Qingdao is transferring its mode and adjusting its structure. It is quite normal that the growth slows down. It is also important to focus on environment protection and improving people’s livelihood.

The economic structure of the city is optimized. In 2014, the added value of modern service industries is 226.2 billion yuan, accounting for 50.9% of the services sector, up by 0.5% year on year. The growth of service industries will account for 51.2% of the GDP, 1.1% higher than previous year.