In 2018, Shandong has laid out 110 provincial key projects, including 100 construction projects and 10 preparation projects. The total investment amounts to 542 billion yuan ($85.2 billion) and the annual planned investment reaches 102 billion yuan.

The projects are guided by the transformation of new and old kinetic energy, embracing new technology, and investing in major infrastructure.

Among them, 68 projects are related to new industries such as the new generation of information technology, with a total investment of 205.7 billion yuan and accounting for 61.8 percent of the total. 31 projects involve the transforming and upgrading of traditional industry, with a total investment of 92.6 billion yuan. There are also 11 infrastructure projects with a total investment of 243.6 billion yuan.

The 110 provincial key projects fully reflect the requirements of new and old kinetic energy conversion. Entity industries account for a higher proportion. The nation's first deepwater drilling riser independently developed and produced by Himile Machinery Co has been applied to offshore oil's 982 drilling platform. This technology can be applied to deep sea oil and gas and flammable ice mining below 3,000 meters.

The aviation plate independently developed by Nanshan Aluminum will fill the gaps of large-size aluminum alloy thick plates for domestic aerospace use.

Projects such as Qingdao International Academician Port and Hisense Global R&D Center will attract high expertise personnel and introduce new technology to promote integrated innovation.

Qingdao National High-speed Train Technical Innovation Center will first construct a rail transit laboratory, a high-speed maglev test center and a high-speed magnetic levitation test center.

The project will focus on the future development of high-speed train technology and provide innovative support for the continuous development of high-speed train technology and industry.

The total investment of this year's projects is 29 percent higher than last year. The average investment of individual projects is 4.9 billion yuan, which is 40 percent higher than last year. Among them, there are five projects with an investment of 5 billion to 10 billion yuan.

With a total investment of 17.5 billion yuan, Yantai Wanhua Ethylene Project will supply the most critical raw materials for polyurethane industry chains and achieve high-value utilization of by-products.

The Jinan-Qingdao High-speed Rail project, with a total investment of nearly 60 billion yuan, will become a comprehensive transportation corridor that runs through Shandong Peninsula after its completion by the end of the year, which will help to promote the economic development of the region.

This year's projects also feature the development of industrial integration. Projects in modern high-efficiency agriculture, modern logistics and other fields will embrace the Internet and use information technology to increase production, storage and transportation efficiency and expand market share.

Some high-end equipment manufacturing projects will use information technology to enhance the level of smart manufacturing.

A development demonstration park in Binzhou will be linked to the breeding, processing and service industries. It will build an online and offline linkage mechanism to drive agricultural production in neighboring regions and increase farmers' incomes.

Goertek Inc will utilize existing plant and public auxiliary facilities to build a digital workshop for precision electronics acoustic devices. It is hoped it will significantly enhance the company's core competitiveness.