Qingdao maintained rapid economic growth. Preliminary statistics showed a gross domestic product (GDP) of 378.652 billion RMB, up 16% over the previous year. Primary industries contributed 20.359 billion RMB in added industrial value, down 2.6%. Secondary industries contributed 195.355 billion RMB, up 15.7%. And tertiary industries contributed 162.938 billion RMB, up 18.8%. The percentages of primary, secondary and tertiary industries were 5.4, 51.6 and 43.0, compared with the previous year's 5.7, 52.3 and 42.0 respectively.

The macro economy grew steadily. In 2007, Qingdao realized a total revenue of 107.05 billion RMB, up 38.8% and generated 29.258 RMB in the local government's general budget revenue, up 29.5% and 32.118 billion RMB in the general budget expenditures, up 35.6%. Tax revenue grew at a high rate. The national tax revenue (including those collected by customs) rose 16.7% to 57.709 billion RMB and local tax revenue increased 27.7% to 18.227 billion RMB. The macro economy continued to experience increasing prosperity. The entrepreneur's confidence index reflecting entrepreneurs' confidence and expectations for the macro economy reached 154.01 at  year end, while the business prosperity index reflecting companies' overall production and operation status stood at 160.18.

Market prices increased structurally. The total consumer price index was 104.5, up 4.5 % from the previous year. The price of food rose 11.6%, which was a key factor to the increase of CPI; tobacco and wine, daily use articles, household appliances and repair services, medical care and personal articles, entertainment, educational and cultural products and services, and housing increased by 4.0%, 1.6%, 1.6%, 0.9% and 2.6% respectively while clothing and transportation and communications decreased by 0.6% and 0.5% respectively. The factory price index for main industrial products was 101.5, up 1.5%. The purchase price index for raw materials, fuels and power was 106.5, up 6.5%. The housing price index was 106.5, up 6.5%. The rental housing price index was 108.3, up 8.3%.

Main problems in economic and social development included; price fluctuations that caused a significant impact on the lives of residents, especially in low income groups; foreign trade, energy-saving and emission reduction were under pressure; the agricultural base was weakened; innovation capabilities and energy efficiency have yet to be further improved.