Shandong speeds up industrial technological transformation, upgrading

(| Updated : 2022-07-01

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A technician works on an assembly line of smart robots in Yantai, Shandong province, on June 8. TANG KE/FOR CHINA DAILY

Shandong has stepped up efforts to support the fusion of digital technology and the real economy as well as the transformation and advancement of traditional industries through the use of digital technology in order to support high-quality development, local media reported.

Cities in Shandong have effectively tapped into the potential demand for industrial technological transformation, increased policy support and financial guidance, and put policies into place to speed up the transformation and upgrading of traditional industries and raise the level of enterprise intelligence and digitalization.

According to Shandong officials, efforts have been made to improve integrated digital and green transformation and development in order to support pandemic response, economic recovery, and growth.

Official statistics indicate that in the first five months of the year, the added value of industries above designated size in Shandong increased by 4.5 percent year-on-year. With a year-on-year gain of 21 percent, Shandong's industrial investment also maintained steady growth.

From January to May, the added value of Shandong's high-tech manufacturing industry increased by 15.1 percent year-on-year, and investment in the "Four New Economy" (new technology, new business pattern, new development mode, and new industry) increased by 16.8 percent, accounting for 52.8 percent of the total.

A total of 8,207 industrial technological transformation projects were carried out during this period, with a year-on-year increase of 16.6 percent.