Rizhao drives growth with industrial upgrades

RIZHAO, China, Feb. 22, 2023 /PRNewswire/ -- A report from chinadaily.com.cn:

Rizhao, a coastal city in East China's Shandong province, is accelerating the upgrading of traditional industries and fostering emerging sectors to serve its high-quality development.

Steel, automobiles, and chemicals, the city's three leading traditional industries, have been making their way towards high-end development by upgrading technologies.

Rizhao Steel Holding Group has developed five ESP hot rolling production lines, which is at the world's highest level. The ESP automotive steel is more than half thinner than conventional steel and has great market potential.

The factory has been awarded as a national green factory and has become the largest production base of high quality thin wide strip steel in the world.

In addition, Rizhao has been promoting the integration of steel industry with automobiles and high-end equipment sectors. In 2022, a factory invested by German auto parts giant ZF Friedrichshafen AG was put into operation with local government efforts.

The plant is mainly engaged in the research and development, production and sales of automotive parts. The factory is expected to have an annual output value exceeding 1 billion yuan ($145.5 million) after three years.

Local officials said that it is of great significance for Rizhao to strengthen its automobile industry chains, expand opening up to the outside world, and promote high-quality development.

Up to now, the city has completed and put into production a number of vehicle projects, attracting more than 350 auto parts enterprises.

Emerging industries are in booming development in the city. A total of 148 high-end enterprises have been launched in the city's new generation information technology industrial park, which helped form an industrial chain, featuring integrated circuits, artificial intelligence, 5G technology, big data, high-end software and information technology services.

The service industry has been playing an increasing role in promoting the city's high-quality development. During the seven-day Spring Festival holiday this year, 18 tourist attractions monitored in the city received a total of 1.36 million people, signaling resumption of the city's tourism market.

According to local authorities, Rizhao will further improve the city's tourism competitiveness and service quality, and integrate its tourism resources for comprehensive development of the industry.

Source: chinadaily.com.cn
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