Binzhou city in Shandong province has been ramping up efforts to build a modern industrial system that is led by new industries, supported by advanced intelligent manufacturing, and coordinated by financial services to achieve high-quality development, Dazhong News reported.

In the first half of this year, investment in the "Four New Economy" (new technology, new business pattern, new development mode, and new industry) in Binzhou increased by 26.2 percent, accounting for 62.7 percent of the total, while the investment in high-tech industries increased 93.4 percent year-on-year, accounting for 12.4 percent of the total.

In March this year, the "Zouping lightweight aluminum new material industry cluster" was approved as a provincial strategic emerging industry cluster, marking Binzhou's first-ever provincial-level strategic emerging industry cluster.

Aluminum alloy is widely used in the automobile industry because of its comparative advantages, such as being light weight and consumes a low amount of energy.

Jia Zhengyu, CEO of Shandong Hongao Automobile Lightweight Technology Co, affirms that for every 100 kg of weight reduction in a new energy vehicle, the battery life can be enhanced by roughly 10 percent. For every 100 kg of weight lost in fuel-powered vehicles utilizing aluminum instead of steel, fuel consumption can be cut by 0.3 to 0.6 liters per 100 km, and carbon dioxide emissions can be cut by 5 grams per kilometer.

The Zouping lightweight aluminum new material industry cluster has become a lightweight R&D, testing and manufacturing base with the largest production scale, and the most advanced technology and complete automobile manufacturing process in China, according to industry insiders.

In addition to aluminum, the food industry is also boosting development in Binzhou.

Last year, Binzhou's food industry brought in a total of 179.6 billion yuan ($26.47 billion), ranking first in the province.