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Xinhua Silk Road
Local

E.China Shandong registers surging fixed-asset investment in 2016-2020

February 08, 2021


Abstract : East China's Shandong Province witnessed the stable operation of fixed-asset investment during the 13th Five-Year Plan Period (2016-2020), achieving an average annual growth of 3.2 percent, according to local statistical authorities.

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Aerial photo shows a national marine ranch in Rongcheng City, east China's ShandongProvince, July 15, 2020. In summer, marine ranches in Rongcheng enter tourist season. (Xinhua/Wang Kai)

BEIJING, Feb. 8 (Xinhua) – East China's Shandong Province witnessed the stable operation of fixed-asset investment during the 13th Five-Year Plan Period (2016-2020), achieving an average annual growth of 3.2 percent, according to local statistical authorities.

During the same period, Shandong's fixed-asset investment in the primary and secondary industries surged 10.7 percent and 6.7 percent, respectively. However, the proportion of investment in the tertiary industry, with the service industry as the pillar industry, increased from 47.3 in 2016 to 66.4 in 2020.

In 2016-2020, Shandong's investment in infrastructure grew at an annual rate of 11.6 percent, while investment in power, thermal production and supply picked up 5.5 percent annually.

Shandong's investment structure in infrastructure has been further improved, attributing to the investment in railway transport and road transport increased at an average annual rate of 22.2 percent and 16.9 percent, respectively during the period.

Meanwhile, the province's investment structure in the manufacturing industry has also been adjusted, and the proportion of manufacturing investment in total investment has dropped from 44.1 percent in 2015 to 25.8 percent in 2020.

Although manufacturing industry witnessed slower growth and smalled proportion in investment, the investment structure has been significantly optimized. In 2020, Shandong's investment in high-tech manufacturing sector increased 38.1 percent, accounting for 16.3 percent of investment in the manufacturing industry.

During the 13th Five-Year Plan period, the province's investment in agriculture, forestry, animal husbandry and fishery grew at an average annual rate of 10.1 percent, accounting for 2.9 percent of the total in 2020.

Shandong has been committed to ecological governance, seeing an average annual growth of 21.0 percent in the field of ecological control, while the investment in health grew 15.3 percent annually in 2016-2020 and that in education, cultural and sports up 10.3 percent annually, on average.

During the same period, Shandong's investment in the "four new" economic areas, namely, new technology, new industries, new business type and new models, grew at an average annual rate of 5.1 percent.

In addition, the province's investment in high-end chemical industry, high-efficiency agriculture and new generation information technology increased by 52.7 percent, 45.3 percent and 30.7 percent, respectively.

(Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)

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Keyword: investment percent rate

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