Rizhao makes strides in industrial transformation, upgrades

RIZHAO, China, Dec. 20, 2023 /PRNewswire/ -- A news report from chinadaily.com.cn:

Rizhao, a coastal city in East China's Shandong province, has achieved significant progress in promoting the upgrading of traditional industries and fostering emerging sectors, and this has aided the city's efforts in achieving low-carbon, green, and high-quality development.

Official statistics show that the city has a planned investment of 78.76 billion yuan ($11.04 billion) in the construction of major industrial projects in 2023. The added value of high-tech manufacturing industries above designated size increased by 8.1 percent year-on-year from January to October.

The city's three leading traditional industries - steel, automobiles, and chemicals - have been upgrading technologies to achieve high-end development.

Rizhao Steel Holding Group has launched a project for the upgrade and transformation of steelmaking blast furnaces by utilizing advanced technologies. After completion, capacity consumption will be lowered by over 25 percent.

A factory invested by German auto parts giant ZF Friedrichshafen AG was put into operation in the city's economic and technological development area in 2022 with the help of the local government.

The plant is mainly engaged in the research and development, production and sales of automotive parts. The factory is expected to have an annual output value exceeding 1 billion yuan after three years.

Emerging industries are developing quickly in the city. A total of 148 high-end enterprises have been launched in the city's new generation information technology industrial park, and this has helped form an industrial chain featuring integrated circuits, artificial intelligence, 5G technology, big data, high-end software and information technology services.

For example, a new generation information technology project, which will provide high-end touch screens for domestic and foreign intelligent terminal enterprises, has also been launched in the city's Wulian county. The project's annual output value is expected to hit 1.5 billion yuan.

A three-year action plan (2023-25) was also released this year to promote the city's low-carbon, green, and high-quality development and advance the upgrading of traditional industries. According to the plan, the total output value of the city's six traditional industries is expected to exceed 600 billion yuan by 2025. 

SOURCE chinadaily.com.cn