As of 1998, there were 910 industrial enterprises in the region, including 26 district-run industrial enterprises, 390 township industrial enterprises, and 407 private industrial enterprises, with a total of 49,700 employees. Industrial enterprises achieved profits and taxes of 230 million yuan, accounting for 50% of the total amount of various industries; the total industrial output value was 5.83 billion yuan, and profits were 123 million yuan. The restructuring rate of enterprises above townships in the region has reached 92.2. It has mainly formed a processing industrial system with food processing, dyeing and weaving, knitted clothing, building materials, chemical industry, machinery manufacturing, low-pressure boilers and other industries as its pillars. Starting from the district conditions and relying on the strategy of "township (town) enterprises to strengthen the district", Licang District's economic operation quality has been significantly improved, and township enterprises have become the economic pillar of the entire district. In recent years, with the increasing investment in science and technology by township and village enterprises, the pace of new product development and transformation of scientific and technological achievements has been accelerated. In 1998, 12 new products in Licang District passed municipal appraisal. Among them, Qingdao Qingyi Fuel Boiler Co., Ltd. has developed a number of patented products and high-tech products in recent years. In 1998, it was listed among the top ten high-tech enterprises in Qingdao. In 1998, the district's township industry completed a total of 5.13 billion yuan, accounting for 88% of the district's total industrial output value, and realized profits and taxes of 270 million yuan.