Shandong Deputy Wang Lei: Focusing on "Two Key Directions" and Fully Launching "Three Brands"

Business operations, connecting internal and external markets, integrating urban and rural areas, and linking production with sales, constitute a vital component of the domestic economic cycle and serve as a crucial hub linking the dual circulation systems, playing a significant role in constructing the new development pattern. This year's Provincial Government Work Report explicitly proposed to create a new highland for high-level opening up, fully unleash consumption potential, and deepen the implementation of special actions to boost consumption. At the recent concentrated interview session for deputies of the 14th Shandong Provincial People's Congress Fourth Session, Wang Lei, a deputy to the Provincial People's Congress and Secretary of the Party Leadership Group and Director of the Provincial Department of Commerce, stated that the province's commercial operations in 2025 were stable and improving, with main indicators performing remarkably well. In 2026, efforts will focus on the "two key directions" of expanding domestic demand to boost consumption and building a new highland for high-level opening up, while fully launching the "three major brands." Wang Lei indicated that the Department of Commerce resolutely implemented the work deployments of the Provincial Party Committee and Provincial Government, tackling difficulties with determination and making steady progress, resulting in new developments across multiple tasks. The main economic indicators surpassed expectations and led the nation. In terms of consumption, the annual total retail sales of consumer goods exceeded 4.2 trillion yuan, ranking third nationally, with a year-on-year increase of 5.1%, a growth rate 1.4 percentage points higher than the national average. Regarding foreign trade, the province's import and export value grew against the trend and reached a new high of 3.53 trillion yuan, jumping to the 5th position nationally, with a growth rate 0.7 percentage points above the national average. The number of foreign trade enterprises with import/export performance exceeded 80,000, an increase of 7,100 year-on-year. In terms of investment, utilized foreign capital reached $9.06 billion, ranking 5th nationally, with foreign capital in high-tech industries accounting for 51.5% of the total, nearly 20 percentage points higher than the national average. Outward foreign direct investment amounted to $11.7 billion, ranking 3rd nationally, of which actual investment in countries co-building the "Belt and Road" more than doubled. Furthermore, the capacity of open platforms achieved a significant leap forward. Successfully hosted landmark open events such as the 4th Confucian Businessmen Conference, the 6th Qingdao Multinationals Summit, Shandong Week in Hong Kong and Macao, and Shandong Week in Singapore. Development carriers including the SCO Demonstration Area, Pilot Free Trade Zone, Development Zones, and Comprehensive Bonded Zones improved in quality and efficiency, with their role as main battlefields becoming increasingly prominent. Wang Lei pointed out that in 2026, to address the complex external environment, the province's commercial system will focus on the "two key directions" of expanding domestic demand to boost consumption and building a new highland for high-level opening up. It will fully launch the "three brands," steadily expand institutional opening, and ensure a good start for the province's commercial development during the "16th Five-Year Plan" period. The first brand is "Shandong Quality Products, Commerce Reaches the World." This involves combining efforts to benefit people's livelihoods and promote consumption, optimizing the implementation of policies for replacing old consumer goods with new ones, and promoting the improvement in quality and benefit of both goods consumption and service consumption. The second brand is "Ten Thousand Enterprises Go Global, Shandong Trade Spans the World." This entails precisely organizing overseas exhibitions, accelerating the construction of overseas service outlets, consolidating traditional markets, exploring emerging markets, deepening the integration of domestic and foreign trade as well as trade and investment, and fostering new advantages in service trade, digital trade, and green trade to strengthen new competitive edges in international cooperation. The third brand is "Sincere Shandong, Welcoming Those Nearby and Attracting Those Afar." Efforts will focus on enhancing the international visibility and influence of major high-capacity open platforms, attracting more high-quality foreign investment to Shandong and encouraging deeper engagement within the province. The fourth aspect is the high-level construction of demonstration zones for institutional opening. This involves deepening reforms, pursuing higher-level opening, promoting innovation-driven development, improving quality and efficiency, and building main battlefields for high-level opening and high-quality development in the province.