A prospective customer tries on down apparel at a Bosideng store at the Mixc, a shopping center in Jinan, Shandong province, in October. WANG JIAN/FOR CHINA DAILY

Shandong province has rolled out a slew of incentive measures to expand domestic demand while deepening supply-side structural reform so as to lay a solid foundation for the region's high-quality development.

Industry is the "ballast stone" of Shandong's economic and social development. Relevant investment can not only expand the current demand, but also increase the future high-quality supply, said industry experts.

A one-time reward of up to 5 million yuan ($725,500) will be given to Shandong cities that rank first in different groups in the growth rate of industrial added value above designated scale and industrial technological transformation investment above designated scale in 2023.

According to Pang Songtao, an official from the Shandong Provincial Department of Industry and Information Technology, the 16 Shandong cities will be divided into three groups according to their scale of business revenue, with five to six cities in each group to ensure that cities with similar size compete. For example, Jinan, Qingdao, Yantai and other industrial cities will be grouped together.

"The aim is to encourage and guide cities to put industrial development in an important position in their economic work, take the initiative to catch up with advanced standards and learn from others," said Pang.

Shandong will also continue to introduce new policy measures to promote consumption recovery and bolster the healthy development of private business, said local officials.