The eastern coastal hub of Qingdao, Shandong province witnessed steady economic growth in the first three quarters of this year, local authorities announced at a recent news conference.

Qingdao boasts a vibrant economy. [Photo/VCG]

Official statistics show that from January to September, Qingdao's GDP reached 1.03 trillion yuan ($161.36 billion), up 10.7 percent year-on-year and an average growth of 6.3 percent in two years.

The added value of the city's primary industry reached 33.47 billion yuan, up 7.1 percent year-on-year and an average growth of 4.2 percent in two years.

The added value of the secondary industry was 357.31 billion yuan, an increase of 10.2 percent year-on-year and an average growth of 6.3 percent in two years.

The added value of the tertiary industry was 640.25 billion yuan, up 11.1 percent year-on-year and 6.5 percent on average over the past two years.

During this period, the added value of industries above designated size increased by 11.3 percent year-on-year, with an average growth of 8 percent in the past two years. The added value of high-tech manufacturing grew by 17.9 percent year-on-year, with an average growth of 8.1 percent over the past two years.

From January to August, the profits of industrial enterprises above designated size in Qingdao increased by 30.6 percent year-on-year, with an average growth of 17 percent in the two years. Qingdao's service enterprises above designated size had an operating revenue of 203.18 billion yuan, up 42.8 percent year-on-year, with an average growth of 21.6 percent in two years.

In the first three quarters of this year, Qingdao's fixed asset investment grew 10.9 percent year-on-year, with a two-year average growth of 6.3 percent.

Qingdao's general public budget revenue reached 106.53 billion yuan, up 15.4 percent year-on-year and up 6.9 percent on average in two years.

During this period, 307,200 urban jobs were created in Qingdao, accounting for 87.8 percent of the annual target and an average growth of 3.2 percent over the past two years.