Qingdao 2013 GDP breaks 800 billion yuan On January 14, the Qingdao government published the economic performance results of Qingdao in 2013. Qingdao GDP reached 800.66 billion yuan in 2013, a growth rate of 10 percent.

The annual urban residents’ per capita disposable income reached 35,227 yuan and per capita consumption expenditure reached 22,060 yuan. Although this growth rate of the Qingdao GDP in 2013 is the lowest in the past 10 years, it is still 2.3 percent higher than the national GDP growth rate.

The slowdown of the Qingdao growth rate in 2013 on the one hand is related to the global economic depression, and on the other hand reflects the adjustment of the economic structure. Against the backdrop of China’s economic transformation, a large number of enterprises started to transform their extensive production mode and production efficiency would see a reduction.

The reduction of the economic growth rate during the nation’s economic transformation is a good sign, as it will eliminate the illusive high in the original economic structure. As the three industries proportion reached 4.4：45.5：50.1, the proportion of Qingdao’s third industry exceeded the 50 percent mark for the first time, indicating the phased achievements of Qingdao’s economic transformation. It is estimated that the economic growth rate of 2014 will be lower than 10 percent as to ensure a stable growth.