Xinhua Silk Road: Rizhao in E. China's Shandong promotes high-quality development of green, low-carbon industries

BEIJING, Sept. 5, 2023 /PRNewswire/ -- Rizhao City in east China's Shandong Province has made efforts to promote the high-quality development of green and low-carbon industries in the first half of 2023, achieving the regional GDP growth of 5.3 percent and showing accelerated recovery trend of local economy.

On July 30, Rizhao Municipal Government and Singapore RGE (Royal Golden Eagle) Group signed an investment cooperation agreement on the Asia Symbol pulp and paper extended chain project.

RGE Group, the largest foreign-funded enterprise in Shandong will invest another 15 billion yuan to build a green and low-carbon integrated production base of pulp, paper and fiber in Rizhao.

The agreement signed marked the 27th capital increase in Rizhao since RGE restructured Asia Symbol in 2005, mainly thanks to the superior investment environment created by the local government and the support policies to encourage green, low-carbon and high-quality development of enterprises.

Li Zaiwu, Party chief of Rizhao, believes that steel, automobiles, chemicals, pulp and paper are the competitive industries of Rizhao. Through technological transformation and product upgrading, the competitiveness of enterprises can reach the domestic first-class or even the international first-class level, which can bring huge benefits.

Rizhao has striven to promote the new generation of information technology, life and health, new energy, new materials and other emerging industries to gather into a potential industry cluster and to promote the expansion of the service industry. In the first half of 2023, Rizhao City achieved a total tourism revenue of 11.12 billion yuan, with an increase of 48.2 percent, exceeding the level of the same period in 2019.

In January, the local government issued a three-year action plan to make specific arrangements for Rizhao to deepen the transformation of the industry towards green and low-carbon development.

According to the plan, by 2025, the total output value of the six traditional industries in Rizhao including advanced steel manufacturing, automobile, high-end chemical industry, pulp and paper, grain and oil processing, and green building is expected to exceed 600 billion yuan, and the proportion of added value of the service industry and the contribution rate to economic growth will reach 55 percent and 60 percent respectively.

Original link: https://en.imsilkroad.com/p/335900.html

SOURCE Xinhua Silk Road