On January 9th, Shandong Province held a meeting on provincial industrial and information-technology work, reporting the successful maintenance of an 80.5% growth rate in 41 major industrial categories since H2 2023, which is 15pp above the national average. In 2023, Shandong Province saw a 6.9% increase in the added value of industries above the designated size from January to November, which was 2.6pp above the national average. Meanwhile, industrial investment in the province increased by 14.6% which was 5.6pp above the national average. Notably, the profit growth rate in Shandong Province reached 15.7%, ranking second in China.

With the accelerated advancement of industrial innovation and the deepened growth driver transformation, Shandong Province saw the establishment of 12 national industrial design centers, 4 national technology innovation demonstration enterprises, and 7 national quality benchmarks in 2023, ranking first in China by the total amount.

The province has fully accelerated the integration of digital technology and the real economy. In 2023, its information technology industry saw revenue growth of 14.9% from January to November, with the revenue growth of the electronic information manufacturing industry and the software industry reaching 12.4% and 16.2% respectively, surpassing the national average by 10.9pp and 2.3pp respectively.

The vitality of the private economy in the province has been greatly stimulated. The province has introduced "38 Measures" to support the development of the private economy, revised regulations to promote the development of small and medium-sized enterprises, and selected 12 counties as pioneers in the high-quality development of the private economy. It aims to facilitate a new round of significant leaps and improvements in the private sector.