Analysis of the gray correlation between GDP growth and the three major industries in Shandong Province

Abstract

2021 is the first year for China to implement its 14th Five-Year Plan. Under this background, Shandong province actively plays a pioneering role, scientifically grasps the new stage of development, focuses on promoting the sustainable and healthy development of the province's economy and society, and plans to build a regional development pattern of "one group, two centers and three circles". The purpose is to test the effect of reform and development in Shandong province in recent ten years, and to provide basis for further development planning of Shandong province under the new background. Therefore, GDP is chosen as an important indicator of economic development. This paper studies the relationship between GDP and output value of three major industries in Shandong province by using grey correlation analysis method. Research shows that the tertiary industry has the greatest impact on Shandong's GDP. Finally, some suggestions are put forward for the economic development of Shandong Province.