The province of Shandong has been promoting the construction of major projects over the past year to boost investment in fixed assets, stabilize business confidence, and overcome the adverse impact of the COVID-19 pandemic.

According to the Shandong Development and Reform Commission, the province has overfulfilled its annual investment target for 326 key projects in 2020, which received a total investment of 310.97 billion yuan ($48.08 billion).

Out of the 247 construction projects, 245 have started construction, 41.7 percentage points higher than planned.

Out of the 79 preparatory projects, 15 with investment totaling 17.38 billion yuan have started construction.