Core Insights - The private economy in Shandong is a pillar of economic development and a leader in innovation and high-quality transformation [1][12] - A company in Qingdao has successfully transformed by relying on innovation in the new energy sector, showcasing efficient development through automation and customization [3][5] Group 1: Automation and Customization - The company has established the first automated production line for new energy transformer boxes in the country, reducing assembly time from several days to an average of 15 minutes per unit [3] - The company has developed a prefabricated transformer station that can be constructed in a fraction of the time compared to traditional methods, allowing for rapid deployment in various locations, including international markets like Saudi Arabia [5][6] Group 2: Policy Support and Innovation - Local government initiatives, such as the "scene opening + policy support" strategy, have provided a conducive environment for cross-industry innovation, including the establishment of a research and development base for electric vehicle charging [9][11] - Shandong has implemented various policies to support the private sector, contributing significantly to the region's GDP, investment, tax revenue, and employment [12][18] Group 3: Growth and Development - The private economy in Shandong accounts for over 50% of the regional GDP, more than 60% of investment and tax revenue, and 90% of business entities, highlighting its critical role in the local economy [12] - A company that faced financial difficulties received government support, resulting in a remarkable increase in sales revenue from 48 million to 1.06 billion within two years [16] Group 4: Future Prospects - Shandong is actively promoting private capital participation in major infrastructure projects, including energy and transportation, with a goal to enhance market access and create a more favorable business environment [21]