Two technicians test an industrial robot at a tech company in Binzhou, Shandong province. CHU BAORUI/FOR CHINA DAILY

Shandong is promoting the development of characteristic industrial clusters that focus on the province's "top 10 industries" and traditional advantageous industries, local media reported.

So far, the province has announced three batches of 65 provincial-level characteristic industrial clusters, which have gathered 79,200 enterprises with an annual revenue of 1.22 trillion yuan ($181.83 billion), created 2.45 million jobs, and provided strong support for high-quality local economic development.

According to an official from the Shandong Provincial Department of Industry and Information Technology, "Shandong is rich in mineral resources, and local governments have given full play to their resource endowment and geographical advantages to cultivate and expand a number of industrial clusters by relying on resource processing."

The 14th Five-Year Plan (2021-25) period marks a "critical time" for the high-quality development of renewable energy in Shandong, and the province will focus on developing new technologies to render a more efficient, cost-effective and reliable supply of renewables such as wind, solar, biomass and geothermal energy to boost both economic development and green transition, according to local officials.

As a new energy comprehensive development project, the advanced compressed air energy storage peak load regulating power station project in Feicheng can generate 3.3 billion kWh of power annually when construction is complete. It is expected to achieve an annual sales revenue of about 380 million yuan.