Aerospace and the low-altitude economy have been designated as priority industries for the 15th Five-Year Plan (2026–2030), positioning Shandong to become a national hub for aerospace innovation and low-altitude economic development.

A 2 billion yuan ($294.03 million) venture capital fund was recently registered in Jinan,  capital of the province. It will mainly be used to support the province's aerospace industry, as well as other cutting-edge fields such as the low-altitude and aerospace information industries.

The fund adopts a differentiated regional strategy. Jinan will concentrate on satellite R&D and manufacturing, air-space-ground data development, and low-altitude communication networks. Yantai will target rocket development and commercial launch services. 

Through this coordinated approach, the province aims to build a full-chain ecosystem covering R&D, manufacturing and the ensuing applications.

The Shandong New Energy Fund Mangement has already invested more than 14 billion yuan in over 110 aerospace-related projects, including Galactic Energy, R. Space, and the Shandong Institution of Photoelectric Integration Technology. The new fund marks a shift from fragmented investments to a more systematic, cluster-based strategy for Shandong's aerospace sector.