According to the press conference recently held by the Information Office of Shandong Provincial People’s Government, in 2020, the total output value of farming, forestry, animal husbandry and fishery in the province reached 1019.06 billion yuan, the first in the country to exceed 1 trillion yuan, marking that the overall strength of Shandong's agricultural economy has improved to a new level. Fixed asset investment in the primary sector increased by 43.6% year-on-year, much higher than the national average and higher than the investment of other sectors in Shandong province.
Besides, the income of farmers in Shandong has been increasing year after year. With the in-depth promotion of primary, secondary and tertiary sectors, Shandong has been witnessing the continuous emergence of new industries and new business models, which effectively supports the increase of farmers’ income. Shandong took the lead in the country in completing the pilot task of reforming the collective property rights system in rural areas, and further broadening the channels for farmers to increase income. In 2020, the per capita disposable income of rural residents in the province reached 18,753 yuan, faster than that of urban residents' income for years on end. The ratio of urban-rural residents' income has been shrinking.