Economy of Shandong

Shandong is predominant in agriculture, renowned as "China's most outstanding agricultural province.”This is down to the value it places on its agriculture as well as its outstanding agricultural output of vegetables, fruits, meat, and aquatic products.

Additionally, it enjoys an advanced marine economy, accounting for one-fifth of the national economic aggregate, and it has established more than 240 marine ranches with a total area of over 19,000 hectares. Shandong is a major producer and supplier of petroleum, coal, and nonferrous metals, having the most gold reserves and output, as well as abundant sea salt and diversified coastal birds.

Shandong is working on shifting from being merely an economically significant province into an economically dominant one.

According to official statistics, the province’s gross domestic product (GDP) reached 9.86 trillion yuan ($1.35 trillion) in 2024, a year-on-year increase of 5.7 percent.

Thanks to well-established industrial infrastructures, industries such as engineering machinery, transportation equipment, textile and apparel, information technology, and the marine economy thrive in Shandong.

Manufacturing makes an enormous contribution to Shandong’s economic growth, comprising a group of world-renowned brands like Haier, Hisense, Inspur, Weichai Power, Tsingtao Beer, and Changyu. Riding on the spring breeze of the transformation from old to new growth drivers, Shandong’s economy is full of vigor and vitality.