Shandong scores investment windfall

Shandong province has recorded the start of more than 1,000 construction projects and investments with a combined investment tag of 1 trillion yuan ($138.2 billion), signaling the benefits of efforts aimed at supporting innovative development by various enterprises and job creation.

Among these initiatives, which kicked off in late February, there are 635 private investment projects, with a total project value of 554 billion yuan.

"These projects boast a robust industrial structure, primarily focusing on emerging sectors like robotics, next-generation information technology, high-end equipment, new energy storage, new materials, and computers, which will play a crucial role in accelerating the development of new quality productive forces in Shandong," said Sun Laibin, deputy director of the Shandong Development and Reform Commission.

Projects underway include an investment by Weifang Hengcai Digital Photo Materials Co Ltd for the production of industrial flaw detection film and tri-acetyl cellulose (TAC) optical film, renowned for its ability to enhance visual quality and provide protection across various industries.

"This project plans to invest 1 billion yuan in the new TAC optical film project, creating job opportunities for over 1,000 people," said Gong Xinjian, chairman of Weifang Hengcai.

"In recent years, the company has enjoyed preferential policies provided by local governments, such as tax exemptions, financial support and land use," said Gong, adding that government assistance in key areas such as recruitment has helped the company overcome its talent sourcing challenges.

Robust policy backing and strategic support have played a crucial role in helping enterprises like Weifang Hengcai pursue growth opportunities and drive innovative development.

The company has developed a new type of digital medical imaging film — medical thermal imaging film — which is not only environmentally friendly and recyclable, but integrates film and self-printing capabilities. This innovation allows patients immediate access to diagnostic results, saving both time and costs, according to Gong.

"The medical thermal imaging film has been widely recognized in the market, with 70 percent of our products exported to countries and regions such as the United States and Southeast Asia," said Gong, adding that current orders are stable, and the income is steadily increasing.