Jinan releases its socioeconomic development plan

Jinan, the capital of East China's Shandong province, has issued the city's plan for national economic and social development for 2023, specifying the priorities, key tasks, policies, and measures to promote its high-quality growth, local media reported.

The regional GDP of Jinan will grow by 5.5 percent in 2023, according to the plan. The added value of the service industry will increase by about 6 percent, and that of industries above designated size, which are those whose main business revenue exceed 20 million yuan ($2.9 million), will increase by about 6 percent, according to the plan.

The added value of the construction industry will increase by about 6 percent and the added value of the agriculture industry will grow by about 3 percent. The city's fixed assets investment will increase by about 6.5 percent and its total retail sales of consumer goods will increase by about 5.5 percent. In addition, the city's growth rate of total imports and exports, as well as its actual use of foreign capital will be higher than the provincial average, according to the plan.

In terms of key tasks and policy measures for economic and social development in 2023, the plan proposes focusing on deepening the transformation of old growth drivers with new ones, as well as fully promoting green, low-carbon, and high-quality development. It also pledges to accelerate the construction of high-level innovative cities. To achieve this, Jinan aims to attract more than 120,000 talents in 2023.

The plan states that efforts will be made to expand effective demand and maintain the economy within a reasonable range. The city will fully expand effective investment and complete over 200 billion yuan in industrial investment throughout the year.

The plan also underlined the need to coordinate development and security, as well as make solid efforts to ensure adequate energy supply and food security.