Jinan, capital city of Shandong province, rolled out a series of measures to promote its advanced manufacturing and digital economy development at a press conference held by the Jinan municipal government on Jan 8.

According to the measures, the government pledged to invest a total of 500 million yuan ($72.4 million) to support its advanced manufacturing and digital sectors.

The released policy has 27 measures in eight sections covering building industries clusters and innovation centers, promoting digital transformation and optimizing the environment for digital economy and advanced manufacturing development.

In recent years, the city's advanced manufacturing and digital sectors have witnessed considerable progress.

Jinan has formed two advantageous industries: the intelligent manufacturing and new-generation information technology sectors. The main business revenue both exceeded 300 billion yuan.

In 2017, the income of Jinan's advanced manufacturing industry accounted for more than 76 percent of revenue from the city's industries; meanwhile the digital economy sector brought in over 36 percent of the city's total revenue, both higher than the average level of the province and the country.

The advanced manufacturing and digital sectors are playing an increasingly important role in the shift from old to new growth drivers and are also key to promoting high-quality development of Jinan's real economy.

According to the policy, more efforts will also made to accelerate upgrading of traditional industries to make them more digitalized, connected and smart, which will also unleash gigantic domestic market potential.