The Development and Reform Commission of Hunan Province and the Department of Commerce of Hunan Province recently organized relevant departments at the municipal, prefectural, and provincial levels to develop key investment projects. Aiming to stabilize investment and the economy, 529 critical provincial investment projects will be created, with a total investment of 1.8 trillion yuan. This is the first time this year that Hunan Province has collectively released key investment projects focused on social capital.

The key investment promotion projects announced this time were divided into six categories: major equipment manufacturing; high-tech industry; modern service industry; modern agriculture and rural revitalization; traditional manufacturing and integration of industry and city; and, major infrastructure. The proportions of the number of projects in six categories are 9.8%, 24.7%, 27.4%, 6.0%, 21.0%, and 11.1% respectively. The total investment of most single projects was not less than 1 billion yuan each. There were 54 projects, each with an investment of 10 billion yuan or above, accounting for 10% of the total number of projects. Zhuzhou City has 71 projects, ranking first in the province.

The scale of projects this year has expanded compared to prior years. The number of projects increased by 79 compared with 2021, and the total investment grew by 0.4 trillion yuan. The policy orientation is more prominent, with 15 projects for green development, 11 for rural revitalization, and 59 for major infrastructure. In keeping with the requirements of jointly implementing the “Belt and Road” initiative and building an opening up hub, the number of projects in the pilot free trade zone increased from 12 in 2021 to 24 in 2022.

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

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn