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Shandong’s Economy Continues to Grow Steadily

Source：Haibao News 12-26-2023 16:35:00

Recently, Shandong Provincial Bureau of Statistics released Shandong's economic performance data for the first 11 months of this year. The data show that the growth rate related to Shandong's main economic indicators continues to improve, and the stable and positive trend of the province's economy continues to be consolidated.

Focusing on enhancing its strength in manufacturing, Shandong has vigorously developed the equipment manufacturing industry and continued to build competitive landmark industrial chains and clusters of advanced manufacturing industries. The development of the equipment manufacturing industry continues to improve. From January to November, the added value of Shandong's equipment manufacturing industry above the designated size experienced a year-on-year increase of 9.6%, which was 2.7 percent points higher than that of all industries above the designated size. Private industries developed steadily. From January to November, the added value of Shandong's private industries above the designated size experienced a year-on-year increase of 8.0%, which was 1.1 percent points higher than that of all industries above the designated size.

The development momentum has been accelerated and optimized. From January to November, the investment in industrial technological transformation experienced a year-on-year increase of 10.6%, which was 5.5 percent points higher than that of the total investment. The growth of emerging industries accelerated, and the "Four New" economic investment increased by 10.6%, accounting for 56.7% of the total investment. Investments in high-tech manufacturing and high-tech service industries increased by 33.6% and 31.8% respectively, which were 28.5 and 26.7 percent points higher than the overall investment growth rate respectively.