CCTV News: In 2024, Shandong Province achieved a regional GDP (GDP) of 9.86 trillion yuan, an increase of 5.7%, a growth rate of 0.7 percentage points higher than the national average. The total GDP ranks third in the country, and the main indicators such as industry, investment, and consumption are all higher than the national average. As 2025 begins, Shandong will implement comprehensive measures to continue to promote high-quality economic development from multiple dimensions such as boosting consumption vitality, strengthening innovation-driven development, and optimizing and adjusting industrial structure.
The consumer market has become an important support for Shandong's stable economic growth
Since 2024, the consumer market, especially online consumption, has become an important support for Shandong's stable economic growth. The online retail sales of physical goods above the limit in the province increased by 22.0%, which not only drove the growth of retail sales, but also stabilized the entire consumer market.
Strive to "new" and continue to increase investment in key areas
At the same time, Shandong continues to increase investment in key areas in 2024. Among them, investment in agriculture increased by 13.7%, investment in manufacturing increased by 15.1%, investment in high-tech industries increased by 15.9%, and investment in the new energy sector increased by 21.3%.
The added value of industrial above-scale industries increased by 8.3%, 2.5 percentage points higher than the national average
The strong growth of industrial base and manufacturing industries is also an important support for Shandong's economy to maintain stable growth. In 2024, Shandong's industrial added value increased by 8.3%, 2.5 percentage points higher than the national average; the digital economy supported "half of the country", accounting for more than 49% of the scale; the whole society's R&D investment increased by 9.4%.
"Triple Billion Cities" Qingdao, Jinan and Yantai have many highlights of economic development
As the third largest economic province with total GDP, Shandong already has three "trillion cities" that take the lead. Relying on the port economy and high-end manufacturing industry, Qingdao maintains its leading advantages, and has shown strong resilience in foreign trade; Jinan is accelerating the development of future industries such as laser manufacturing and artificial intelligence, and forward-lookingly deploying emerging fields such as intelligent robots and quantum information; Yantai's development trend is steadily progressing, a large number of key projects are put into production one after another, and energy, industry, cities and life are transformed in a comprehensive green manner.
The "Blue Engine" is powerful and strives to build a highland for marine economic development. The ocean is Shandong's advantage and potential. The GDP in 2024 is expected to be around 1.8 trillion yuan, ranking among the top in the country. In order to further improve the industrial level, Shandong has introduced a series of financial, talent and industrial policies to improve the system and mechanism of marine economic development from eight aspects: promoting the leadership of marine scientific and technological innovation and cultivating and expanding emerging marine industries.
Industry insiders said that in the face of the current wave of new technological revolution, Shandong must continue to increase the transformation and upgrading of traditional industries, actively cultivate emerging industries, and form a more reasonable, efficient and sustainable industrial structure. In 2025, the key to Shandong's economy is to implement comprehensive measures from various aspects such as boosting consumption, strengthening innovation-driven, and adjusting structure to promote high-quality economic development.
