120 major projects to boost Shandong's economic renewal in 2019

A total of 120 major projects with investment amounting to 613 billion yuan ($90 billion) will break ground in Shandong to fuel the province's efforts to replace old economic development drivers with new ones in 2019.

According to a government news briefing convened on Jan 21, the selection process of the major projects for 2019 started last September in a bid to guarantee the initiation of construction work by the spring.

Wang Xiaoyan, an official from the key project management office under the Shandong Development and Reform Commission, said that Shandong has increased support for projects from the advanced manufacturing sector and using scientific and technological innovation, as they are vital to developing new growth drivers and in gaining a competitive edge.  

Among the 120 projects, 80 for emerging sectors such as new-generation information technology, high-end equipment, new energy and new materials, modern maritime industry and medical and health services will be carried out this year, Wang added.

In addition, 14 infrastructure projects including high-speed railways, airports, and expressways were also listed to advance the construction of regional transportation infrastructure and support economic development.

Approved by the State Council in January 2018, Shandong is sparing no effort to build a national comprehensive pilot zone with the specific goal of transforming old economic development drivers to new ones.

Covering an area of nearly 40,000 square kilometers, the pilot zone includes the cities of Jinan, Qingdao and Yantai, as well as economic development zones, high-tech zones and special areas supervised by custom authorities in 14 cities.

Since projects are key to the conversion of old and new growth drivers, the province has made a special effort to attract major projects since April last year.

So far, it has identified 900 projects related to the conversion, with estimated investment totaling 4 trillion yuan.