Shandong leads in R&D investment in China

Shandong province made significant strides in research and development (R&D) investment in 2023, solidifying its position as a leading innovation hub in China.

Among the 12 provinces and municipalities in China that invested over 100 billion yuan ($14 billion) in R&D in 2023, Shandong ranked fifth with a total investment of 238.6 billion yuan. This marks a continuous upward trend for the third consecutive year and demonstrates the province's unwavering commitment to scientific advancement.

To address critical technological challenges and enhance industrial competitiveness, Shandong has implemented 449 major provincial science and technology projects in the past three years. These initiatives have been instrumental in securing the stability and resilience of the province's industrial value chains and supply chains.

As of the end of 2023, Shandong had added over 6,000 new high-tech enterprises, bringing the total number to more than 32,000 and ranking fourth nationwide. This substantial growth underscores the province's thriving innovation ecosystem.

Moreover, 10 cities in Shandong reported R&D expenditures exceeding 10 billion yuan, with Qingdao, Jinan, Yantai, Weifang, Linyi, Zibo, Dezhou, Binzhou, Jining, and Dongying leading the way.