Service sectors take the helm in sailing city
By Xie Chuanjiao | China Daily | Updated: 2014-05-14 07:06
Qingdao's service sectors have outpaced manufacturing and agriculture to become the major driving force of its economy.
Since 2011, the city's added value in the service industry has increased by an average of 11.1 percent each year and reached 401.28 billion yuan ($64.33 billion) in 2013. It accounted for 50.1 percent of the city's gross domestic product.
Tax revenue generated from service sectors accounted for 48.5 percent of the city's total and created 53 percent of employment in Qingdao.
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