During 2002, the local economy maintained a healthy and fast development tendency. The city's GDP exceeded 150 billion yuan, indicating the strengthening of the overall economic power. 7 features highlighted local economic development in 2002.

First of all, the construction of the 4 major industrial bases have been put under overall construction. The economic system for sustainable development is taking shape with more and more efforts focused on the industrial restructuring. Secondly, the city government has accelerated the pace of economic gloabalization. A large group of foreign-funded projects have been introduced into Qingdao. Thirdly, the city government takes full advantage of meeting the 2008 Olympic Games in order to strengthen city construction and improve the city's appearance of an international metropolis. Fourthly, 10 local key enterprise groups made fast development with the deepening of the enterprises' reform. The production value of the share-holding enterprises covered 42% of the total volume. Fifthly, the city government put more efforts to improve the investment environment, which improves the government's reputation and notability. Sixthly, the social security system has been further improved. The increase rate of employment exceeded that of unemployment, which plays an active role in the city's social stability and development. Finally, in order to improve local citizens'overall quality, the government has launched the strategy of building Qingdao into an learning-oriented city, which has taken effects in improving social civilization.

(QDTV__Seven Days)