Digital economy booms in Shandong. [Photo/VCG] 

The digital economy has been booming in Shandong province, which has injected new vitality into regional economic recovery and sustainable development, Dazhong Daily reported.

In the first half of this year, the province's software business revenue reached 414.41 billion yuan ($59.92 billion), up 17.8 percent year-on-year, ranking fourth in the country. Revenue from electronic information manufacturing and the telecom business hit 243.03 billion yuan and 44.05 billion yuan, respectively, up 16 percent and 11.7 percent.

Shandong has issued a series of policies and measures to promote the development of the digital economy. It has accelerated the digital transformation of its traditional industries, and accelerated innovation in multiple application scenarios such as social governance, public services, production and livelihoods.

From January to July, 10,198 technical renovation projects worth more than 5 million yuan were implemented in Shandong, with investment in technical renovation increasing by 11.2 percent.

There are more than 350 smart agriculture application bases in Shandong, which have 801 Taobao villages, ranking third in China.

In the first half of this year, online retail sales in Shandong reached 287.3 billion yuan, up 18.7 percent, 15.6 percentage points higher than the national level.

Focusing on technological innovation in the digital economy, it has cultivated 26 innovation laboratories for big data development, 67 industrial innovation centers, 29 innovation service institutions and 76 innovation talent bases. A total of 3,468 high-tech enterprises in the digital economy have been fostered in the province.