Shandong keeps economy stable

(| Updated : 2023-11-24

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Jinan, capital city of Shandong province. [Photo/IC]

Since the beginning of this year, Shandong has been ramping up efforts to keep the economy stable and promote regional high-quality development.

The province has launched well-targeted policies and measures with a focus on securing market players, sustaining employment and driving up consumption to realize its economic growth target for this year and keep major economic indicators within a certain range.

From January to October this year, industrial production in Shandong province remained stable, with the added value of industrial enterprises above designated size increasing by 6.9 percent year-on-year. Among the 41 major industry categories, 33 achieved growth in Shandong.

The equipment manufacturing industry and consumer goods industry are showing signs of recovery, with added value increasing by 9.4 percent and 3.3 percent, respectively, year-on-year over this period.

In the first 10 months, fixed asset investment increased by 5.3 percent year-on-year, while investment in the manufacturing industry and infrastructure increased by 11.3 percent and 25 percent, respectively.

The upgrading of traditional industries has accelerated in Shandong, and investment in industrial technological transformation increased by 14.2 percent year-on-year.

As of the end of October, there were 14.57 million market entities in the province, an increase of 4.6 percent year-on-year.

From January to October, about 1.1 million new urban jobs were created in the province, an increase of 3.6 percent year-on-year.