Shandong
9.86T yuan GDP (2024, #3); light/heavy industry center; Haier/Hisense/Tsingtao home; Yulong 200k b/d refinery (2025); petrochemical powerhouse.
Shandong's GDP reached 9.86 trillion yuan in 2024 (+5.7%), ranking 3rd nationally. The province is China's most important production center for light and heavy industry. Petrochemical and oil refining grew rapidly through investment-driven strategy since 2000, especially during heavy chemical industry development. Yulong Petrochemical's second 200,000-b/d refinery unit started in 2025. Dongying (Shengli oil field) specializes in petrochemicals, paper, rubber, textiles. Zibo produces glass, porcelain/ceramics, textiles, thermal power, petrochemicals, electrical equipment. Qingdao leads in textiles, locomotives, chemicals, tires, machine tools, household appliances. World-renowned brands include Haier, Hisense, Inspur, Weichai Power, Tsingtao Beer, and Changyu. Engineering machinery, transportation equipment, textiles, IT, and marine economy thrive. China caps refinery capacity at 20 million b/d by 2025.