Shandong advances economic growth in quantity, quality

(| Updated : 2023-01-16

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An employee operates equipment at a smart production facility in Yantai, Shandong province, in November, 2022. TANG KE/FOR CHINA DAILY

This year, Shandong will continue to inject vitality into the consumption market and enhanced confidence into economic recovery, as well as steadily implement stabilizing policy measures with a focus on growth, employment and prices in an attempt to spur market vitality, according to the provincial government work report delivered during the first session of the 14th Shandong Provincial People's Congress.

The province has made "promoting quality and quantity improvement in the economy" the top priority of its work in 10 key areas this year, and will make greater efforts to expand domestic demand.

"The registered population and permanent resident population both exceed 100 million, offering a huge market size and huge consumption potential. Shandong will give full play to these advantages in restoring and expanding consumption," said Sun Aijun, a deputy to the Shandong Provincial People's Congress and director of the Shandong Provincial Development and Reform Commission.


The first session of the 14th Shandong Provincial People's Congress kicks off on Jan 13 in Jinan, capital of Shandong province. [Photo/Iqilu News]

This year, Shandong will prioritize economic recovery and boost consumption by fine-tuning the implementation of policies and initiatives.

Special promotions and investment events will be held across the province, and vouchers will be issued to boost consumption in the automobile, home appliance, culture and tourism, retail and catering sectors.

Shandong will also implement a package of policies to stabilize the economy, further expedite the financing of key projects, accelerate infrastructure projects, and proactively expand effective investment.

Moreover, it will accelerate the construction of key projects such as the Wanhua New Materials Low-carbon Industrial Park and the Haier COSMOPlat Ecological Demonstration Park.

The province will fund 310 billion yuan ($46.31 billion) in transportation investment and accelerate the development of provincial-level water network pilot areas.