The Shandong Economic and Information Commission has stated that Shandong Province will invest 222.8 billion yuan in 2014, in a bid to carry out technical reforms in enterprises.

Shandong Province has developed a guiding plan for the 2014 major technical reform in enterprises. Among the total investment, 84.39 billion yuan will be in the form of business loans. The investment will help enterprises, especially small- and medium-sized enterprises, to overcome difficulties in financing for technical reform in order to stabilize economic growth and optimize resource allocation.

Shandong Province has a high ratio of heavy industry in its industrial structure, a short industrial value chain and relatively weak technological support capability. Therefore, Shandong Province will continue to increase investment in the technical reform. More capital will be invested in the technology-intensive industries, with a lower consumption of resources, greater potential and better comprehensive efficiency, in order to lead enterprises to improve their development quality.

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