To promote industrial upgrading with intelligent manufacturing, Shandong has invested more in equipment renewal and technological transformation to transform and upgrade traditional industries and cultivate and expand emerging industries and promote the high-end, intelligent and green development of manufacturing.

To boost the confidence and improve the willingness of relevant enterprises, Shandong has completed the mechanism of serving enterprises. A series of policies such as offering equipment upgrading rewards and subsidies, equity investment, and special loans for technological transformation to inspire enterprises' enthusiasm and initiative in implementing technological transformation and equipment renewal.

With the support of preferential policies such as technological innovation and upgrading and tax and fee reduction, enterprises have become more confident in investing more capital in improving the treatment of scientific researchers, upgrading R&D equipment and expanding advantageous production capacity so as to release greater independent innovation capacity.

From January to February this year, the added value of industries above the designated size, the industrial investment, and the industrial technological transformation investment in the province grew by 5.4%, 15.9%, and 10.9% year-on-year, 3 percentage points, 5.9 percentage points and 6 percentage points higher than the national levels, respectively.