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Shandong Reports Satisfactory Industrial Performance
The coastal province of Shandong, an economic powerhouse in China, reported a satisfactory industrial performance in the first quarter this year.
Shandong reaped 63.16 billion yuan in industrial added value, some 14.4 percent more than in the previous quarter. Meanwhile, the province has realized profits of 11.78 billion yuan, up 28.9 percent.
In addition to the province's policy of enlarging domestic demand, the fact that Shandong has been in the forefront of economic restructuring compared with other regions in China has also helped its economy grow steadily.
Shandong was the first province in China to engage in industrial restructuring, and has since invested enormously in shrinking its textile and paper-making industries while cultivating its household appliances industry.
Shandong ranks third in terms of industrial volume in China.
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