Yantai's GDP surpasses 871b yuan in 2021, up 8%

The coastal city of Yantai in East China's Shandong province generated 871.12 billion yuan ($138 billion) in GDP in 2021, up 8 percent from that in 2020, according to the city's government report released on Feb 24.

The added value of the city's primary, secondary and tertiary sectors increased by 7.5 percent, 6.7 percent, and 9 percent, respectively, according to statistics.

The agricultural industry maintained a steady growth last year, with the city's total annual grain output reaching 1.83 million metric tons, up 5 percent year-on-year, while the added value of industrial enterprises above a designated size increased 10.8 percent year-on-year, 1.2 percentage points higher than the provincial average.

According to statistics, the city's high-tech manufacturing industry was robust last year, with added value increasing by 25.2 percent year-on-year.

Yantai's service industry also grew rapidly in 2021, with service businesses above the city's designated size reporting total business income of 63.23 billion yuan, up 23.8 percent year-on-year.

Information services, such as information transmission and software and information technology, have emerged as new economic growth drivers in Yantai.

Last year, overall consumer goods retail sales increased by 15.4 percent year-on-year to 323.23 billion yuan.

Yantai's foreign commerce totaled 411.5 billion yuan in 2021, up 27.8 percent year-on-year, and set a new record. The actual use of foreign capital grew by 16.1 percent year-on-year to $2.65 billion last year.

The city also saw steady growth in rural and urban residents' incomes. The per capita disposable income of its residents grew by 8.5 percent year-on-year to 42,629 yuan in 2021.