Shandong holds a conference on Feb 5 to promote high-quality development through reform and innovation, emphasizing the importance of innovation and progress for the province. [Photo/Dazhong News]

Shandong has made significant strides in reform and innovation in recent years. Investment in new technologies, industries, formats, and models now accounts for 58.8 percent of the province's economic landscape, with the digital economy comprising over 49 percent of GDP.

In addition, the installed capacity of new energy and renewable energy has reached 1.15 billion kilowatts, representing 48.3 percent of total energy. Efforts to bolster the development of the private sector have resulted in a 7.6-percent increase in private investment.

Shandong has undertaken 10 key integrated reforms, including restructuring resources for major technological innovations and exploring market-oriented resource allocation through provincial pilot programs. Noteworthy achievements include the expansion and restructuring of 55 development zones and the nationwide adoption of 15 reform outcomes from pilot free trade zones.

Customs clearance supervision reforms are aimed at enhancing work efficiency in the China (Shandong) Pilot Free Trade Zone Yantai Area. [Photo/Dazhong News]

In the China (Shandong) Pilot Free Trade Zone Yantai Area, the introduction of a "batch inspection" model allows goods to move along with inspections, streamlining customs clearance and saving time and resources for businesses.

"Previously, we underwent inspections twice a week. Now, a monthly inspection suffices, freeing up over 4 million yuan in working capital," said a representative of Shandong Jinhe Group.

Shandong convened a conference on Feb 5 to drive high-quality development through reform and innovation, emphasizing the importance of deriving momentum from reform and vitality from innovation. With a rich history of pioneering development experiences, the province continues to lead the way, with 15 reform achievements from the free trade zones being replicated nationwide.