Shandong is China's second largest province by population, and the third largest province in terms of GDP. Its economy has benefited from the location proximity to South Korea and Japan and going forward its export-oriented industries will continue to expand. However, due to rising costs and the relatively developed nature of its economy, Shandong's GDP growth will slow. Overall, real GDP is forecast to grow at a CAGR of 5.3% over the forecast period.
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