Shandong sees steady economic growth in Jan-Oct

(| Updated : 2021-11-24

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East China's Shandong province has maintained steady economic growth during the first 10 months of this year due to encouraging performances in the manufacturing and service sectors, according to data recently released by the Shandong Provincial Bureau of Statistics.


Customers shop in the produce section of a supermarket in Qingzhou, Shandong province, on Nov 11. [Photo by Wang Jilin/for China Daily]

During this period, the added value of industrial enterprises above designated size in Shandong increased by 10.5 percent year-on-year, with an average growth of 7 percent in the past two years.

In the first three quarters of this year, the operating revenue of services above designated size reached 814.9 billion yuan ($127.53 billion), up 28.1 percent year-on-year and up 12.7 percent on average over the past two years.

Investments saw rapid growth. Fixed-asset investment grew 7.8 percent year-on-year during this period, with a two-year average growth of 5.4 percent.

The consumer market has been developing steadily, with the total retail sales of consumer goods reaching 2.7 trillion yuan in this period, up 17.3 percent year-on-year and up 6.8 percent on average in the past two years.

Foreign trade had also continued to grow. The total volume of the province's imports and exports reached 2.39 trillion yuan, up 36 percent year-on-year and up 19.7 percent on average in two years.

From January to October, the revenue in the general public budget grew by 14.6 percent year-on-year and by an average of 6.8 percent over the past two years.

Market vitality has steadily increased. From January to October, 1.87 million new market entities were registered, up 4.5 percent year-on-year.

The overall employment situation has been positive. From January to October, 1.1 million new urban jobs were created, up 7 percent year-on-year.