Shandong to pursue higher GDP quality
- By Liu Qi
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E-mail China.org.cn, January 28, 2014
The government work report set the target for the 2014 Shandong economic growth rate at 9 percent, 0.5 percentage points lower than those of 2012 and 2013.
In recent years, the economic growth of Shandong province was mainly stimulated by investment.
In 2012, gross capital formation accounted for 55.1 percent of its gross product, 7.3 percent higher than China’s average. In regards to the energy consumption in 2012, Shandong’s energy consumption occupied 10.7 percent of the national one. Yet the installation of renewable energy generation still remains 19 percent below the national average.
This type of growth mode is not sustainable. To merely slow down the growth will make it possible to employ more resources in the area’s overall social well-being, air pollution control and its green space.
The target of moderately slowing down the economic growth is to increase the GDP in a green, low-carbon and sustainable way, combined with local features and advantages.
