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Wang Xiao, industry and informatization to revitalize the real economy

2017/9/11 17:28:30

The launching ceremony and press conference of the special report on “seek new development with new economic engines” was held on Sept. 11, 2017 in Jinan, capital of east China’s Shandong province. Wang Xiao, deputy inspector of Shandong Economic and Information Technology Committee attended the ceremony and delivered a speech.

"Shandong leads the country in economy and industry," said Wang Xiao. The industrial enterprises above designated size reached a year-on-year increase of 7.5 percent in the first seven months this year, 0.7 higher than the national level. Shandong’s main business income amounted to 9.3157 trillion yuan, a rise of 13.1 percent, and the profit reached 525.4 billion yuan, up 12.3 percent, accounting for 13.3 percent and 12.4 percent of the country’s total respectively. "Currently, the traditional economic growth drivers run steady while the new ones develop rapidly," Wang Xiao, stressed in his speech. “It is the right time to promote the transition from the old economic growth engines to the new ones in Shandong,” he added.

Industry and informatization play the major role in the revitalization of the real economy. To speed up the transition from the old economic engines to the new, priorities should be given to the development of industry and informatization. Shandong is striving to foster a new industry featuring strong innovation capacity, rational industrial structure, high brand value as well as environmental protection and energy saving.

Traditional industry is the foundation for the building of new industry. To improve the efficiency, new energy should be injected in the transition of traditional growth drivers. The emerging industry works as important support for the construction of new industry. Shandong has to accelerate the improvement of its industrial supply capacity. Cross-border integration will be a breakthrough for Shandong’s new industry. Since brand-building is crucial for Shandong developing new industry, the province is making great efforts to create a new image for its industry.

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