NLT(SZ:300778) Sou Hu Cai Jing·2025-12-13 05:57Core Insights - The recent Central Economic Work Conference emphasized the support for major economic provinces to take the lead in economic development [1] - Jiangsu and Shandong have announced significant economic growth data, with Jiangsu's GDP projected to exceed 14 trillion yuan and Shandong's GDP expected to surpass 10 trillion yuan [1][9] Summary by Sections Jiangsu's Economic Growth - Jiangsu's GDP has increased from 10.5 trillion yuan in 2020 to 13.7 trillion yuan in 2024, marking a significant milestone as it approaches the 14 trillion yuan mark [1] - This positions Jiangsu as the second province in China to cross the 14 trillion yuan GDP threshold after Guangdong [1] Shandong's Economic Development - Shandong's GDP is projected to grow from 7.44 trillion yuan in 2020 to 9.86 trillion yuan in 2024, achieving a significant milestone as it becomes the third province in China to exceed 10 trillion yuan [3][9] - The province's contribution to the national economy has increased from 7.19% to 7.31% during this period [3] Industrial Transformation in Shandong - Shandong has successfully transitioned its industrial structure, with high-tech industries' output rising from 45.1% in 2020 to 55.2% in the first half of 2024 [3] - The province has built 26.6 million 5G base stations, ranking second in the country for the number of gigabit cities [3] New Economic Zones and Urban Development - Shandong announced a plan to expand its "trillion-yuan city" initiative, aiming to elevate Weifang, Linyi, and Jining to trillion-yuan cities, which would increase its total to six [6] - The province's economic landscape is characterized by its dual-core cities, Qingdao and Jinan, each with distinct strategic roles [6] Qingdao's Economic Aspirations - Qingdao aims to accelerate its GDP growth to reach the 2 trillion yuan mark, with its GDP ranking 13th nationally and closing the gap with Tianjin [7] - The city is positioned to potentially become the "second city in the north," enhancing Shandong's competitive edge among major cities [7] National Economic Landscape - Guangdong remains the top province with a GDP exceeding 14 trillion yuan, while Zhejiang is projected to join the trillion-yuan club by 2026 [9] - The combined GDP of the top four provinces could place them among the top 20 economies globally, highlighting their significant role in China's economic framework [9]