Shandong promotes high-quality development of construction industry

(| Updated : 2022-07-06

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Shandong recently launched a three-year action plan to promote the high-quality development of the construction industry in the province.

The construction industry is a pillar industry in Shandong and creates lots of jobs, Shandong officials said.

According to official statistics, during the 13th Five-Year Plan (2016-20) period, the total output value of Shandong's construction industry exceeded 6.3 trillion yuan ($939.33 billion). In 2021, the sector's total output value reached 1.64 trillion yuan, with a year-on-year increase of 9.8 percent.

The construction industry has offered more than 3 million jobs and made outstanding contributions to regional economic and social development.

In the coming three years, Shandong expects to roll out a slew of measures to strengthen and optimize the construction industry, according to the action plan.

The province plans to encourage large-scale high-quality construction enterprises to carry out strategic cooperation with the government, research institutes, academies and other leading companies in the industry, and implement supportive policies in terms of funding, personnel, and development of business incubation platforms.

In order to expand investment in Shandong, achieve joint progress, and cooperate in a way that benefits both parties, efforts are expected to be made to promote major construction enterprises.

The province also plans to build a number of key industry laboratories and engineering technology innovation centers and accelerate the construction industry's green transition goal.