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C China's Hunan to invest RMB305 bln in major project construction to ensure stable economic growth

March 23, 2020


Abstract : Central China's Hunan province plans to invest 305 billion yuan in construction of 160 major projects this year in efforts to stablize the economic development, according to a teleconference recently held by the province.

BEIJING, March 23 (Xinhua) -- Central China's Hunan province plans to invest 305 billion yuan in construction of 160 major projects this year in efforts to stablize the economic development, according to a teleconference recently held by the province.

To accelerate production resumption of upstream and downstream industrial chain as well as service enterprises, and give full play to the role of state-owned enterprises and key private companies in driving real economy growth, Hunan will launch five categories of critical projects, including 119 industrial projects, 110 science and technology innovation projects, 120 product innovation projects, and projects of bringing in more than 110 top 500 enterprises in the world and about 116 sci-tech talents, according to the Provincial Development and Reform Commission of Hunan.

The province will adopt 96 polices concerning tax incentives, financing and loans, employment and fiscal subsidies to further make investment easier, while increasing the benefits of public-private-partnership (PPP) projects by extending cooperation period and innovating operation mode to spark investment by private companies.

The cultivation of emerging industrial and new business formats is also prioritized by Hunan. Local governments are supported to carry out new infrastructure projects related to 5G commercial use, big data, artificial intelligence, etc., propel development of new business formats such as online office, online education and digital entertainment, and accelerate construction of 30 characteristic towns featuring industry, agriculture, culture and tourism industries. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)

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Keyword: investment Hunan

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