China will strive to modernize the industrial system and develop new quality productive forces at a faster pace, according to a Government Work Report submitted on March 5 to the national legislature for deliberation. New quality productive forces, with innovation as the leading force, break away from traditional economic growth patterns and production development paths and focus on high-tech, high-efficiency, and high-quality growth.

National Supercomputering Center in Jinan. [Photo/VCG]

2024 is a pivotal year for Shandong in accelerating green, low-carbon, and high-quality development and modernization. The province's tailored approach towards new endeavors is drawing significant attention. As an economic powerhouse, it possesses strengths across industries, markets, and environment, providing fertile ground for new quality productive forces.

As the only province with all 41 industrial categories, Shandong has taken the lead in China by fostering emerging and future industries, steering industrial and energy structures towards advanced and green transformation.

In recent years, Shandong has made progress in economic development models, with seven clusters being selected as national emerging industry clusters, ranking first in the country. Additionally, it promoted digital economic development, with the digital economy accounting for 47 percent of GDP in 2023. Shandong's concerted efforts in emerging and future industries have also propelled the upgrading of traditional industries.

Industry has long been the main engine of the province's economic development. To develop new quality productive forces, Shandong aims to leverage its strengths to enhance traditional industries with new technologies and promote the high-end and green transformation of the industry.

The digital economy serves as a pivotal point for a modern industrial system. According to experts, Shandong's industries possess the potential for the integration of the digital and real economy. In 2024, it will expedite new industrialization and leverage industrial digitalization to enhance the agriculture, industry, and service sectors.

New emerging and future industries serve as the main battleground for new quality productive forces. In 2024, Shandong will improve the layout of future industries. Around 20 cutting-edge technological breakthroughs and 15 provincial-level future industry clusters will be advanced in areas such as artificial intelligence and future networks.

New quality productive forces embody green productivity. This year, the province will intensify efforts in energy conservation and carbon reduction, boosting the construction of five major clean energy bases and related projects.