Bao'an Party chief Yao Ren declared the launch of 72 projects for the fourth quarter of 2019 at a ceremony at Haoxiang Lake Park in Shajing on Friday.
The 72 projects require a total investment of 32.2 billion yuan (US$4.6 billion), including 8.3 billion yuan of investment by the government for 60 projects and 23.9 billion yuan in private investment for 12 projects.
A majority of the projects, 60 in total, involve infrastructure construction, which requires a total investment of 9.8 billion yuan. These include Bao’an Public Culture and Arts Center, the pilot section of the Maozhou River Ecological Way (Bao’an section), the new Haoxiang Park in Shajing and a nine-year public school in Zone 39.
Three industrial development projects, namely Bay Area New Tech and Products Exhibition Center, Bao’wan Building and Ruiwan Building, will involve a total investment of 9.1 billion yuan.
Nine urban renewal projects, including Huangpu Jinyuchang Industrial Zone, Chentian International Auto City and Tangwei No. 1 Industrial Zone, were also launched with a total investment of 13.3 billion yuan.
Bao'an has sped up fixed assets investment this year, dishing out 117 billion yuan in total fixed assets investment in the first 11 months, a year-on-year growth of 17.2 percent. The increased investment has helped stabilize the economy.
After the launch ceremony, Yao visited the site of the new Haoxiang Park in Shajing Subdistrict. The new park, with an investment of 300 million yuan, will feature local culture and achievements in water treatment.