Zibo is projected to have an average annual GDP growth of 7 percent over the next five years. [Photo by Liu Tao]
The 13th Zibo Municipal People's Congress was held on Feb 12, with Jiang Duntao, Party secretary of Zibo city – located in East China's Shandong province – delivering a report on the government's performance in the past five years and setting out ambitious development targets for the next five years.
Over the next five years, plans are for Zibo to increase its efforts to achieve dynamic economic growth. Regional GDP is projected to increase by 7 percent annually on average during the period, breaking through the 700 billion yuan ($110 billion) barrier.
The target for research and development expenditure is for it to come in at 3 percent of GDP, while the output value of high-tech industries is projected to account for more than 60 percent of the total output value of industries above a designated size.
Furthermore, it is predicted that the task of replacing old growth drivers with new ones will have been basically completed during the period. Traditional industries and the new materials, intelligent manufacturing, new medicines and electronics information sectors will be transformed – with the new economy and future industries becoming the pillar sectors.
The total output value of manufacturers above a designated size – those with annual revenue of 20 million yuan or more – will exceed 1 trillion yuan, while digital agriculture is forecast to take the lead in the country.
On top of this, Zibo is projected to refine and streamline its urban functions, further extend the opening-up of its economy, improve the environment, make more progress in cultural construction and achieve more breakthroughs in rural vitalization, as well as improve on its governance capabilities.
