New Year's Economic Scan | Expanding Investment in Multiple Regions and Highlighting Major Projects to Start a Work Tide

2024-02-21

At the beginning of the Spring Festival of the the Year of the Loong Year, many places across the country actively deployed to expand effective investment, and unveiled the list of major projects in 2024. Policy support has been strengthened to improve efficiency, with a group of large-scale, structurally sound, and dynamic projects starting construction, striving to make a successful start to the economy throughout the year. On February 18th, the Qingdao SCO Hub Port New City Infrastructure and Supporting Project (Phase I) with a total investment of 3.03 billion yuan started construction, and the on-site machinery roared, creating a busy scene. "The project will further enhance the comprehensive service function of the park through the construction of six roads and supporting projects, build a coordinated development of the transportation and economic circle, and assist the Shanghai Cooperation International Hub Port in becoming an important window for international exchange and exhibition in the Shanghai Cooperation Demonstration Zone," said Ma Fang, Deputy General Manager of China Railway Construction. According to data, as of February 19th, China Railway Construction has 436 ongoing projects, overseas projects will not be suspended during the Spring Festival, more than 60% of domestic projects have completed and resumed work and production, and more than 13000 labor workers have returned. Just after the Spring Festival holiday, various regions have been working hard to start a wave of construction: in Jiangxi, 1139 major projects in the first quarter have started construction, with a total investment of 680.5 billion yuan; In Zhejiang, 333 major projects with a total investment of 977 billion yuan have been started, put into operation, and put into operation; In Guangdong, Foshan and other places, concentrated construction projects for the Chinese New Year have been launched one after another... Major projects are the "ballast stone" of economic development and an important lever for expanding effective investment. In the deployment of this year's economic work, the Central Economic Work Conference in 2023 pointed out the need to expand effective investment. Expanding effective investment is not only an important way to expand domestic demand, but also an inherent requirement for promoting high-quality economic development and the transformation of economic growth momentum. On the one hand, it is necessary to further play the guiding and driving role of government investment, focus on major infrastructure construction, and strengthen investment in areas such as scientific and technological innovation, industrial upgrading, and people's livelihood; On the other hand, we should pay more attention to stimulating the vitality of private investment and enhancing the confidence of private capital Fan Ruoying, a researcher at the Bank of China Research Institute, said. Taking a closer look at the recently released list of effective investment policies and major projects for 2024, the key words are large-scale, structurally sound, and dynamic growth. There are many projects with a large investment amount - Guangdong Province has arranged 1508 key construction projects in the province, with an annual planned investment of 1 trillion yuan; The preliminary list of key projects in Chongqing includes about 1200 projects, with a planned total investment of about 2.9 trillion yuan and an annual planned investment of over 450 billion yuan; Jiangsu Province has implemented 600 major industrial projects, an increase of 100 compared to the previous year. The total planned investment for the projects is 1549.8 billion yuan, with an annual planned investment of 369.68 billion yuan, an increase of 17.8% and 15.0% respectively compared to the previous year. Industry is becoming more "new" and people's livelihoods are becoming more "warm" - Shanghai's major engineering plan has arranged 191 formal projects, with the most in the science and technology industry category, reaching 76; Among the 600 major industrial projects in Jiangsu Province, strategic emerging industry projects account for 69.5%, while future industry projects such as third-generation semiconductors, hydrogen energy, new energy storage, cutting-edge new materials, and future network communication account for 12.8%; There are a total of 24 key livelihood projects in Hunan Province

Edit:Hou Wenzhe    Responsible editor:WeiZe

Source:XinhuaNet

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