of leading Chinese cities due to the strong export economy and relatively high family wages. There is a large Korean community in Qingdao. By 2009, there were approximately 100,000 Koreans working, studying and living in Qingdao, which makes Qingdao the second in terms of Korean population in China, following Beijing which has about 200,000 Koreans. Economy In recent years, an important region in Eastern China, Shandong Province has seen substantial change in its economic landscape. Much of this development has been concentrated in Qingdao. Qingdao has seen rapid development. With an annual growth rate of 18.9 percent in 2006, the city's GDP reached 42.3 billion, ranking first in Shandong Province and tenth out of China's top 20 cities. GDP per capita comprised CN¥52,895 (US$7,616) in 2008. The GDP has grown steadily at an average pace of 16% annually. In 2006, Qingdao was ranked one of six "golden cities" by the World Bank, out of 120 Chinese cities assessed on factors including investment climate and government effectiveness. In 2018, Qingdao's GDP reached CN¥1200.15 billion, though it shrank a little in 2019. Internationally, Qingdao is perhaps best known for its Tsingtao Brewery, founded by a German-British joint venture in 1903 that produces Tsingtao beer, the best-known Chinese export beer. It is also home to Haier, a large white goods manufacturer, and Hisense, a major electronics company. In 2002 guitar manufacturers Epiphone opened a factory in Qingdao. In 1984 the Chinese government named a district of Qingdao a Special Economic and Technology Development Zone (SETDZ). Along with this district, the entire city had gone through amazing development of secondary and tertiary industries. Qingdao flourishes with foreign investment and international trade as an important trading port in the province. South Korea and Japan in particular made extensive investments in the city. Approximately 80,000 South Korean citizens reside there. In terms of primary sector industries, Qingdao has an estimated of arable land. Qingdao has a zigzagging pattern coastline, and thus possesses an invaluable stock of fish, shrimp, and other sea resources. Qingdao's wind power electricity generation performs at among the highest levels in the region. Industrial zones Qingdao West Coast New District Qingdao Special Economic and Technological Development Area Qingdao Free Trade Zone Qingdao High-tech Industrial Zone Qingdao University Industrial Zone Transport Road There are a total of of roads in the Qingdao area, with nearly of expressways. These National Trunk Highway System (NTHS) Expressways