Shandong accelerates construction of special industrial clusters

Industrial robots produce auto parts on production lines at a factory in Yantai, Shandong province. [Photo/IC]

A provincial working conference to boost the development of local characteristic industrial clusters was held on July 20 in Tai'an, Shandong province.

According to Shandong authorities, the cultivation of characteristic industrial clusters in the province started early and has yielded fruitful results.

Four batches of 100 provincial-level characteristic industrial clusters have been identified, involving 121,800 enterprises that have a combined annual revenue of 2.99 trillion yuan ($419.45 billion) and have created 3.77 million jobs.

Characteristic industrial clusters have also become an important force to stabilize foreign investment and foreign trade in Shandong.

Official statistics showed that the province's characteristic industrial clusters have set up 179 branches overseas, and the export volume of their leading products increased by 31.4 percent on average in 2022.

Local officials stated that the cultivation of characteristic industrial clusters plays a vital role in advancing the high-quality development of small and medium-sized enterprises.

The province will provide greater support to boost the development of SMEs, and cultivate more SMEs that specialize in niche sectors. These specialized SME's will also have mastered core technologies, have a high market share and have strong innovative capabilities.

Shandong will give greater priority to the development of its advanced manufacturing clusters. It will also continue to guide local cities to leverage their comparative advantages and intensify work related to specialization and differentiation.