Adopt market methods to promote conversion

The conversion of new and old kinetic energy involves   the reform of ideas, production modes, management modes, and operation   mechanisms, all of which requires the government to adopt new methods to   manage new industries.

Provincial authorities point out that an efficient   management mechanism should be set up to make sure all the projects, the new   and transformed ones, are effectively completed on time. Each region should   develop featured pillar industries based on their own advantages and do not need   to develop the ten major industries at the same time. To achieve this goal,   100 major projects should be selected to implement with full force.

The major projects for 2018 include the national   high-speed train technological innovation center in Qingdao and the national   health and medical care big data center in Jinan. A supervision service   platform will be established to monitor the project library. The projects in   the library are not fixed and will be adjusted according to market   changes. 

“Special funding is a strong support for the conversion   of new and old kinetic energy,” said Liu Xingyun, head of the Shandong   Province Finance Bureau. A fund of 600 billion yuan ($94.36 billion) was   founded to attract financial and social capital to invest into major fields.

Shandong also tries to make good use of industry   associations. Some preferential policies will be released to let them play a   positive role in solving development problems of the ten major industries.

Taking all the potential problems and advantages into   consideration, Shandong will step firmly to achieve the conversion of new and   old kinetic energy by developing the ten major industries.

[Photo/WeChat account: sd_photo]