Tai'an's GDP in the first half of 2018 reached 189.59 billion yuan ($27.48 billion), according to the city's bureau of statistics, a year-on-year increase of 6 percent and 0.7 percentage points higher than the first quarter of the year.

The growth can be attributed to the fact that Tai'an has been continuing to accelerate the conversion of new and old kinetic energy, and coordinate the development of its economy, economic reform, policies to economically benefit its citizens, and financial risk prevention programs.

As a result, Tai'an's economy grew steadily in the first half of the year and it also has achieved some preliminary success in the conversion of new and old kinetic energy.

Tai'an founded a municipal-level project database to facilitate its energy conversion process,. A total of 209 projects were included in the database, with an investment of 19.57 billion yuan in the first half of the year.

Moreover, thirty one of the projects were also selected into the Shandong provincial new and old kinetic energy conversion project database, which are given priority to when applying for financial support and funds.