Seven provinces in China roll out infrastructure project plans worth 25 trillion yuan

On February 23, Yunnan Province announced the launch of “Double Ten” major infrastructure projects with a total investment of about 3.6 trillion yuan. The projects mainly focus on infrastructure construction such as railways, highways, cross-border grids, smart grids, full coverage of 5G networks, and multi-modal logistics network.

On February 23, Yunnan Province announced the launch of “Double Ten” major infrastructure projects with a total investment of about 3.6 trillion yuan. The projects mainly focus on infrastructure construction such as railways, highways, cross-border grids, smart grids, full coverage of 5G networks, and multi-modal logistics network.

According to the director of the Fixed Asset Investment Division of the Yunnan Development and Reform Commission, Yunnan will launch 525 critical projects with a total investment of about 5 trillion yuan in 2020, and complete the investment of more than 440 billion yuan before the end of 2020.

On February 20, Henan Province released a list of 980 key construction projects for 2020, with a total investment of 3.3 trillion yuan. Henan plans to complete an investment of 837.2 billion yuan in 2020, which covers areas in industrial transformation and development, innovation, infrastructure, new urbanization, environmental protection, people’s livelihood, and social undertakings.

On February 25, Fujian Development and Reform Commission issued a list of 1,567 provincial vital projects for 2020, with a total investment of 3.84 trillion yuan, of which 1,257 projects are under construction with a total investment of 2.97 trillion yuan and an annual planned investment of 500.5 billion yuan, and 310 preparatory projects have an investment of 870 billion yuan.

Before the Spring Festival, provinces like Sichuan, Chongqing, Shaanxi, and Hebei all have released investment plans for 2020. According to the plans, Sichuan will launch 700 key projects with a planned investment of 4.4 trillion yuan and an estimated annual investment of more than 600 billion yuan.

Chongqing will launch 1136 significant projects with a total investment of 2.6 trillion yuan and an annual planned investment of 347.6 billion yuan. Shaanxi will start 600 provincial projects with a total investment of 3.38 trillion yuan and a yearly investment of 501.4 billion yuan. Hebei will launch 536 projects with a total investment of 1.88 trillion yuan and an annual planned investment of 240.2 billion yuan.

The total investment of the seven provinces is close to 25 trillion yuan, and the planned expenditure for 2020 is nearly 3.5 trillion yuan. Other provinces have also released a list of projects but without publishing the investment amount, and some provinces only released inexplicit data.

Yi Xiaoguang, director of the Chongqing Institute of Comprehensive Economic Research, said that using the investment to drive economic growth is a feature of the Chinese economy. Despite these investment projects not targeted epidemic but scheduled in the annual plan, the epidemic indeed has urged the local governments to pay more attention to the construction of some infrastructures.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/seven-provinces-in-china-roll-out-infrastructure-project-plans-worth-25-trillion-yuan/.

Leave a Reply

Please Login to Comment