Construction of the high-speed railway in southern Shandong province is accelerating and is expected to open to traffic by the end of 2019. [Photo/dzwww.com]

According to the Shandong Development and Reform Commission, investment in key provincial projects continued to grow at a high speed in July, with 9.44 billion yuan ($1.34 billion) invested in 100 key provincial construction projects, accounting for 10.1 percent of the annual plan.

By the end of July, a total of 70.61 billion yuan had been invested in 120 provincial-level key projects, of which 94 were started in 100 key construction projects, with investment reaching 60.38 billion yuan. Seven of the 20 provincial-level key preparatory projects were started, with an investment of 10.23 billion yuan.

In the first seven months of the year, the total investment of Jinan, Qingdao and Yantai exceeded 5 billion yuan, while Jinan, Qingdao, Yantai and Weihai have completed over 70 percent of their annual plans in the period.

The province's major infrastructure projects were advanced, with an investment of 35.1 billion yuan, 79.4 percent of the annual plan. A total of 15.85 billion yuan has been invested to foster and strengthen emerging industries, accounting for 54.2 percent of the annual plan, while 9.43 billion yuan was invested in upgrading traditional industries, making up 61.7 percent of the annual plan.