Economically dynamic Shandong Province in east China recorded 1,054 billion yuan (130 billion U.S. dollars) in fixed-assets investment last year, a year-on-year growth of 38.9 percent.

The latest data shows the province was the first to have its annual fixed-assets investment exceed the 1-trillion-yuan mark across the nation, indicating that investment continued to be a major force driving the provincial economy.

Last year Shandong realized 1,847 billion yuan (228 billion U.S. dollars) in gross domestic product, up 15.2 percent.

Sun Guomao, president of Qilu Securities Co., Ltd. based in the province, said Shandong should expand its financial sector to enable it to contribute more to the local economy.

Other booming economies in coastal areas, such as Guangdong, Zhejiang, Jiangsu and Shanghai, all boasted a relatively developed financial sector, Sun added.

Last year, China took measures to cool down investment.

Source: Xinhua