An aerial view of the fully automated container terminal at Qingdao Port of Shandong Port Group [Photo provided to chinadaily.com.cn]

Shandong's economic recovery continued to gather momentum in November amid the coronavirus pandemic and a sluggish global economy, with most of its key indicators showing improvement as a result of continued policy support, said the Shandong Provincial Bureau of Statistics.

Industrial production continued to accelerate in Shandong, while the added value of industries above designated size increased by 4.4 percent in the first 11 months of this year, 0.7 percentage points faster than in the first 10 months. The growth rate in November was 9.9 percent, 0.1 percentage points faster than in the previous month.

From January to November of this year, the growth rate of 41 major industrial sectors was 70.7 percent, an increase of 7.3 percentage points over the first 10 months.

Steady progress was also made in investment and construction in the province. Investment in fixed assets grew by 3.4 percent in the first 11 months of this year, up 0.3 percentage points from the first 10 months.

In addition, manufacturing investment turned positive for the first time this year, rising 2.9 percent, 3.4 percentage points higher than in the January-October period.

Private investment picked up pace as well, growing by 5 percent, 2.4 percentage points higher than in the first 10 months of this year.

The province also saw an expansion of foreign trade. From January to November, imports and exports in Shandong were valued at 1.98 trillion yuan (about $303.3 billion), up 7.3 percent year on year. Exports were valued at 1.16 billion yuan, up 16 percent.

Furthermore, the province's export structure was further improved, with general trade exports growing by 21.8 percent, accounting for 72.8 percent of all exports, an increase of 3.4 percentage points year on year.

The province's imports and exports to countries involved in the Belt and Road Initiative increased by 10.3 percent, accounting for 30 percent of the province's total.

New forms of foreign trade developed as well, and cross-border e-commerce imports and exports grew by 197.9 percent in Shandong.