Shandong to boost new momentums of growth

Employees check equipment in a factory belonging to Shandong ZhongJi Electrician Equipment, which engages in machinery manufacturing business, on Nov 24, 2017. [Photo by Zhang Wei/China Daily]

The State Council approved a guideline to set up a comprehensive pilot zone for new growth momentums in Shandong province, according to a statement released on Jan 10.

The pilot zone should focus on the real economy and develop new technologies, industries and business models, which should be supported by new production factors such as information and new technologies, the guideline said. An industrial system, in which the real economy, technological innovation, modern finance and human resources should be coordinated, should be established to achieve a higher-quality, more efficient, fairer and more sustainable development, it added.

The pilot zone will center on core cities of Jinan, Qingdao and Yantai, supported by other 14 cities, provincial economic and technological development zones, high-tech development zones and special zones overseen by the customs authorities, the guideline said.

The provincial government of Shandong should strengthen its leadership and improve the working mechanism to ensure all targets are realized as scheduled, the guideline said. All major policies and construction projects must be approved in accordance with legal procedures, the document added.