Qingdao is expected to register investment growth in fixed assets of 23 percent in 2011, which will contribute to a 4.6 percentage points rise in the region's overall economic growth last year, according to the municipal government.

The investment mainly flows into the agricultural industry, the hi-tech industry, the service industry and infrastructure construction, a senior official with the municipal Development and Reform Commission said.

From January to November 2011, the hi-tech industry saw a total investment of 27.9 billion yuan (US$4.4 billion), up 39 percent from a year before. Investments in information technology, scientific development and finance increased by 235 percent, 173.4 percent and 42.7 percent respectively.

The commission also landed funding of 1 billion yuan (US$158.4 million) from the central and provincial governments to support the construction of the city's 178 projects that involve infrastructure, people's livelihood and emerging industries.