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Agricultural Development Bank of China
Policy

China races to boost major project construction amid epidemic

February 24, 2020


Abstract : Amid the novel coronavirus pneumonia outbreak, a string of provinces and municipalities in China have raced to roll out plans or lists of major projects to be constructed in 2020, with more than one trillion yuan of investments on the way, reported the Xinhua-run Shanghai Securities News on Monday.

BEIJING, Feb. 24 (Xinhua) -- Amid the novel coronavirus pneumonia outbreak, a string of provinces and municipalities in China have recently raced to roll out plans or lists of major projects to be constructed in 2020, with one-plus trillion yuan of investments on the way, reported the Xinhua-run Shanghai Securities News on Monday.

Chinese capital city Beijing, for instance, issued a plan involving 300 key projects with a planned investment of about 252.3 billion yuan, 66.2 billion yuan of which are expected to go to 100 infrastructure projects, including seven national railway projects, five suburban rail projects, 16 subway projects, 12 highway projects and 16 urban road projects.

A special work group was also set up to ensure the implementation of municipal key projects to the greatest extent, according to the Beijing Municipal Commission of Development and Reform.

The Shanghai Municipal Development and Reform Commission on February 22 released a list of major projects to be constructed in 2020, with Tesla gigafactory phase I project listed as an official project while Tesla gigafactory phase II project and Disneyland expansion project among others selected as preparatory projects which will be implemented soon after related procedures being finished,

Central China's Henan Province also promulgated a key project list involving 980 projects with a total investment of 3.3 trillion yuan, 837.2 billion yuan of which are scheduled to be completed in 2020.

In addition, with active efforts, key projects in multiple regions have resumed work and production in an orderly way.

A total of 354 key projects in south China's Guangdong Province had realized work resumption as of February 21, making its work resumption rate of key projects by the end of February exceed 70 percent, said Chen Zhiqing, deputy director with the Guangdong Provincial Development and Reform Commission.

Data from central China's Hunan Province showed that 131 of the 173 provincial key projects under construction had resumed work as of February 19 with a work resumption rate of 75.7 percent, ranking among the top nationwide.

According to the Guizhou Provincial Development and Reform Commission, 127,6 key projects in southwest China's Guizhou Province had resumed work by February 20 with a work resumption rate recording 65 percent and 244 projects starting construction for the first time.

As of February 21, 80 key projects including 43 manufacturing projects in east China's Jiangsu Province had resumed work and production with a work resumption rate registering 67.8 percent, said Wang Xiandong, deputy director with the Jiangsu Provincial Development and Reform Commission.

Besides, northwest China's Shaanxi Province has set up a special emergency construction fund of 120 billion yuan to speed up construction of key projects in the province. (Edited by Gu Shanshan)

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Keyword: local governments project construction work resumption policy

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