Shandong province achieved a regional GDP of 9.86 trillion yuan ($1.36 trillion) in 2024, representing a 5.7 percent growth rate year-on-year, which is 0.7 percentage points higher than the national average, according to its government work report released on Jan 20.

The report suggests that Shandong's key indicators such as industrial output, investment, and consumption all exceeded the national averages.

It also outlines the main economic and social development goals for this year: achieving a regional GDP growth of over 5 percent; increasing general public budget revenue by 3 percent; aligning resident income growth with economic growth; maintaining an urban surveyed unemployment rate around 5.5 percent; generating over 1.1 million new urban jobs; keeping the consumer price index within a reasonable range; and fully meeting targets for energy conservation, emissions reduction, and environmental quality improvement.

Shandong Governor Zhou Naixiang underscored focusing on high-quality development with stability and sustainability. He outlined 10 priorities for 2025:

1. Growing domestic demand: Strengthening infrastructure construction and promoting the healthy development of the real estate market.

2. Technological innovation: Advancing innovation, industrial modernization, and the growth of modern service industries.

3. Deepening reforms: Supporting private sector development, reforming State-owned enterprises, integrating education with science and talent cultivation, and furthering fiscal and financial reforms.

4. International openness: Promoting higher levels of global cooperation and exchange.

5. Rural vitalization: Enhancing agricultural productivity and rural development.

6. Marine economy: Strengthening Shandong’s position as a hub for the modern marine economy.

7. Green transformations: Prioritizing the protection of the Yellow River, developing clean energy systems, and pursuing sustainable practices.

8. Cultural and tourism development: Driving the high-quality growth of cultural and tourism industries.

9. Improving livelihoods: Enhancing employment opportunities and improving the healthcare system for residents.

10. Safety and stability: Strengthening risk management in key sectors and innovating social governance practices.

These measures aim to position Shandong as a leading force in high-quality economic and social development, paving the way for sustainable growth and improved living standards, said Zhou.