East China sees rapid economic development

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Last updated at: (Beijing Time) Tuesday, January 13, 2004

East China sees rapid economic development

East China's Shandong Province enjoyed a coordinated and healthy economic development in 2003, said Han Yuqun, governor of Shandong Province.

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East China's Shandong Province enjoyed a coordinated and healthy economic development in 2003, said Han Yuqun, governor of Shandong Province.

Speaking at a session of the provincial people's congress, Han said that the gross domestic product (GDP) of Shandong amounted to1.2 trillion yuan (150 billion US dollars), up 13.3 percent from the previous year.

The growth rates of the provincial industry, agriculture and service industries were 5.6 percent, 16.1 percent and 11.9 percentrespectively, contributing 71 billion yuan (8.6 billion US dollars)to the provincial finance, said the governor.

Shandong Province spent 529 billion yuan (64 billion US dollars)in fixed assets in 2003, the governor said, and over 1,000 projects with over 100 million yuan (12 million US dollars) investment each were being constructed.

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