Report highlights Shandong's economic resilience in 2023

(chinadaily.com.cn)| Updated : 2024-01-23

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Shandong Provincial People's Congress assembled on Jan 22 to attend the read of the report on the work of Shandong Provincial People's Government, a part of the annual two sessions of the province. 

The report finds that in 2023, Shandong province marked a turning point in its post-pandemic economic recovery, achieving remarkable steps across various sectors.

Shandong's GDP reached 9.2 trillion yuan ($1.30 trillion), growing by 6 percent year-on-year, higher than the country's average level . Notably, Yantai secured its position as the province's third trillion-yuan city.

The province also announced a surge in technological breakthroughs, with 10 new national-level key laboratories including the establishment of a national-level technology innovation center.

Shandong's industries saw upgrades, fostering innovation and creating over 9,500 new enterprises. Major strategies gained momentum, propelling ecological projects and urban development plans.

The province is known as one of the agricultural production bases in the region. In terms of agricultural strength and infrastructure advancements, agricultural output reached 1.25 trillion yuan, with a historic high in grain production. Simultaneously, infrastructure received a new uptick, enhancing connectivity and transportation.

The province's livelihoods saw tangible improvements despite headwinds, with job creation and social safety nets expanding synchronously.

Looking forward, Shandong aims for over 5 percent GDP growth, emphasizing new industrialization, modern services, and strategic digital economy development.

In terms of foreign trade and urbanization drive, efforts to boost consumption and investment continue, emphasizing foreign trade and key urbanization initiatives.

Shandong is committed to green initiatives and environmental conservation, embarking on carbon reduction measures and fostering rural cultural prosperity and rural vitalization through heritage preservation and innovative projects.

Shandong's 2023 achievements lay a solid foundation for sustained growth, positioning the province as a soil of resilience and vitality.