The gross domestic product or GDP of Zibo – a prefecture-level city in East China's Shandong province – was predicted to hit 450 billion yuan ($64.53 billion) in 2022, for year-on-year growth of 4 percent, according to a municipal government report issued on Dec 28.
Revenue from the general public budget after deductions for tax credits and rebates was projected to reach 40 billion yuan, up 5.7 percent year-on-year. Fixed asset investment and industrial added value above a designated size was predicted to increase by 16 percent and 5.5 percent, respectively.
The transformation and upgrading of Zibo's industries is reported to be accelerating.
The added value of the city's four strong industries – new materials, intelligent manufacturing, new medicines and the electronics information industries – is projected to have accounted for over half of the city's total industrial added value above a designated size in the year.
The report said there are currently 157 newly added medium and small-sized specialized enterprises in Zibo that produce cutting-edge products, as well as 40 new national 'little giant' companies. Two local companies were selected in the top 500 in China in 2022 and eight were included in the list of top 500 manufacturers in China.
In addition, there were 96,000 newly registered market entities, including 27,000 new enterprises, in 2022.
It is estimated that 390 new projects worth more than 100 million yuan were introduced in 2022, with over 60 billion yuan of funds from outside Shandong province and over $1 billion of foreign investment actually utilized.
The per capita disposable income of urban and rural residents is estimated to have reached 44,500 yuan in 2022, up 5.3 percent year-on-year.
A splendid aerial view of Zibo city. [Photo/IC]
