Shandong is working hard toward green, low-carbon, and high-quality development and to become a new hub for high-level opening-up through comprehensively deepening reform, said Lin Wu, Party secretary of Shandong.

Also chairman of the Standing Committee of Shandong Provincial People's Congress, Lin said that this year, Shandong is set to initiate 15,000 key projects with a total investment of 14.6 trillion yuan ($2 trillion).

The province is also focusing on stabilizing foreign investment and foreign trade while implementing an "expansion into overseas markets" initiative, he said.

"Next, we will consolidate traditional markets and expand into emerging markets in South America, Central Asia, and Africa, among others, to bolster foreign trade and investment," Lin said.

He emphasized Shandong's steadfast commitment to building a modern industrial system, emphasizing the shift towards high-end, intelligent, green, and clustered development.

Efforts are being made to revamp and elevate traditional industries such as petrochemicals, steel, and non-ferrous metals, as well as optimize, restructure, and upgrade traditional industries, Lin said, while adding that the province is also upgrading equipment, transforming with technology, nurturing emerging industries, and accelerating strategic emerging industry clusters.

Looking ahead, Shandong plans to embark on key projects within pivotal industry value chains, while fostering the growth of industries such as next-generation information technology, high-end equipment, new energy, and new materials.

Pilot demonstrations in areas like low-altitude economy and unmanned driving will be conducted to cultivate more emerging pillar industries that lead industrial upgrades, he said.

Additionally, Lin also outlined Shandong's plans in advancing carbon reduction, pollution reduction and green development as well as the province's initiatives in further deepening reform and innovation.