Jinan, capital of Shandong province, revealed its goals for the city's industrial development at a news conference on July 10.

The city's industrial added value is expected to rise to over 30 percent of gross domestic product (GDP), while its main industrial revenue is expected to exceed one trillion yuan ($142.8 billion) by 2025.

Jinan will work to foster four pillar industrial clusters for big data and new generation information technology, intelligent manufacturing and high-end equipment, high-quality steel and advanced materials, as well as  biomedicine this year.

In addition, more efforts will be made to expand 37 production chains, including software and information technology services and the automobile and auto parts sectors.

The local government will also introduce supporting measures to stimulate industrial enterprise development, industrial support funds will be increased to 2 billion yuan, and more support will be given to industrial and technological upgrading.

Furthermore, local authorities will reduce the cost of electricity for enterprises involved in advanced manufacturing and the digital economy.

According to Wang Chuanqiu, deputy director of the Jinan municipal financial bureau, Jinan has established a special fund of 500 million yuan to promote the development of advanced manufacturing and the digital economy in 2019.

In the first five months of this year, the city's investment in industries and technological upgrading increased by more than 20 percent and 60 percent, respectively.

Wang added that the city will also step up supports to cultivate small and medium-sized enterprises.