Zibo GDP shrinks because of not developing industry?

Zibo's shrinking GDP may not be entirely due to the lack of industrial development, but may also be influenced by other factors.

Zibo is a major city in China's Shandong province, historically known for developing coal, chemical and glass industries. However, in recent years, industrial upgrading, environmental protection and energy transition policies pursued by the Chinese government have had an impact on traditional industrial industries in the Zibo region, and some companies may have to restructure or shut down production. This has adversely affected the development of Zibo's industry and GDP growth.

In addition, there are some other challenges facing Zibo's economic development, such as the transformation and upgrading of old industries and the rural economy, the upgrading of the urban economy and urbanization, and innovation and entrepreneurship. All these challenges will affect Zibo's GDP growth.

There could also be a link to the global economic situation, with market pressures and trade protectionism issues in major global economies also affecting the Chinese market, and Zibo's economy could also be affected by such issues.

In summary, the reasons for Zibo's shrinking GDP are more complex and may involve a number of factors affecting it, not just because of the lack of industrial development.