Saturday, February 24, 2018

Many big projects ready to begin in China

big projects ready to begin in China
A slew of big projects, with total investment of more than 10 trillion yuan (1.58 trillion US dollars), are about to start in a number of Chinese provinces and regions this year, Saturday's China Daily reported.

As local governments aim for growth quality and sustainability, most of these projects will be in strategic and emerging industries, such as high-end equipment manufacturing and information technology, as well as infrastructure construction related to transportation and energy.

East China's Shandong province, for instance, is ready to launch 900 projects with total investment of 4 trillion yuan this year, according to the province's development and reform commission.

Most of the projects cover emerging industries, such as renewable energy, new materials and high-end equipment manufacturing, and infrastructure construction including the building of high-speed railways and airports.

Six other provinces, including Henan, Hubei, Jiangxi and Guizhou, will also see project investment exceeding 1 trillion yuan each this year. The projects will focus more on poverty relief and environmental protection.

Local governments are shifting their development strategies in accordance with the call by the country's top leadership for high-quality development, the newspaper quoted analysts as saying.

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