On January 22, Shandong Province released its 2023 economic development report. In 2023, the provincial GDP reached RMB 9.2 trillion, marking a 6% growth. The added value of industries above the designated size, the fixed asset investment, the retail sales of consumer goods, and the total import and export value increased by 7.1%, 5.2%, 8.7%, and 1.7% respectively, all higher than the national average growth rate.

In 2023, Shandong Province accelerated the green transformation of traditional industries, adding over 100 national-level green factories and industrial parks. In terms of industry development, investments in high-tech industries showed significant growth, with a growth rate of 35.3%. The digital economy experienced accelerated growth, while high-end service sectors such as internet, software, and information technology maintained double-digit operating revenue growth. In terms of foreign trade, the proportion of imports and exports with countries participating in the Belt and Road Initiative noticeably increased, and the export value of new foreign trade items, including electric passenger vehicles, lithium-ion batteries, and solar cells, saw a substantial year-on-year increase of 47.3%. The exports of electric passenger vehicles to Europe, Central Asia, and Latin America increased 2.4 times, 7.4 times, and 1.4 times respectively.