Between January and February, Hunan Province has launched a new round of project construction and the province's fixed-asset investment maintained a steady growth of 10.4% over 2021, according to the Hunan Provincial Statistics Bureau on March 21.

The construction of Sinoboom Intelligent International Intelligent Manufacturing Town is in full swing. Tower cranes and excavators are busy working at the construction site. The project will be developed into a world-class beacon factory. An aerial work equipment industrial cluster featuring “Sinoboom Intelligent + Supporting Industries” will be fostered in Changsha.

The Xiangjiang Intelligent Connected Industrial park will invest 42 billion yuan in building a hub of intelligent connected industry.

Rapid growth of industrial investment in the first two months of this year was attributed to large project number and wide project layout, of which investment in manufacturing industry increased by 28.4%. The investment in high-tech industries grew by 27.6% year-on-year. The growth rate of investment in instrument manufacturing and special equipment manufacturing both exceeded 38%.

Hunan Province has continued to increase investment in infrastructure and people's livelihood projects. In February alone, 271 of 1,428 major projects that have started in the province were infrastructure ones, such as power grid 220-500 kV power transmission and transformation projects, and 10 kV urban and rural power grids transformation and upgrading projects. There were 160 people's livelihood projects, such as the Hunan Grand Theater Moon Island Art Center Project, and the Xiangxi Medical Education and Health Town construction. From January to February, the province's infrastructure investment increased by 4.4% year-on-year. Among the people's livelihood projects, investment in education increased by 26.7%, and that in health and social work increased by 22.1%.

It was worth mentioning that private investment played a vital role in driving fixed-asset investment growth and contributed 98.8% to this regard.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn