East China’s Jiangsu province saw steady progress in the construction of large investment projects in the first half of this year, indicating the determination and effectiveness in the efforts to expand effective investment, stabilize growth and boost industrial restructuring.
Jiangsu planned the launch of 240 major investment projects this year with 220 breaking ground already.
The annual investment totals 533 billion yuan with 182.3 billion yuan to be earmarked for 130 major investment projects.
Through government support and the joint efforts of all parties, the progress of major project construction has been generally smooth with good performances.
74 of the 109 major investment projects broke ground in the first half of this year, accounting for 68% of the total and 8 percentage points higher from a year ago. The figures also stand for a historic high.
270 billion yuan was injected into 220 major investment projects in the first half of the year, accounting for 50.7% of the total.
36 billion yuan was poured into 30 major investment projects supervised by the provincial leaders. The investment accounted for 66.4% of the total, 15.7 percentage points higher than the average progress.
Zhao Jianjun, deputy head of the provincial development and reform commission
Since last October, the provincial leaders have been tasked with the supervision of major investment projects so as to help solve tough problems in the execution of the projects, which has in turn facilitated the accelerated implementation of the projects. The practice has been hailed by the grassroots enterprises, bolstered the confidence and created a good business environment.
Since the start of this year, government authorities at all levels in Jiangsu have set up green channels for the smooth progress of major investment projects by streamlining the formalities for project examination and approval.
Effective breakthroughs have been made in the promotion of the Yuechuang LCD panel project in Xuzhou, the Qoros New Energy Vehicle project in Kunshan and the Levson graphene project in Hai’an. These projects are expected to start construction in the near future to provide important support and engines for promoting industrial transformation and upgrading and high-quality development in Jiangsu.
Shen Kunrong, dean of the College of Business, Nanjing University
China’s economy is faced with more and more uncertainties in the external environment and downward pressure. However, Jiangsu has seized the progress of some major investment projects in a timely manner and selected projects related to emerging industries such as smart manufacturing, new materials and new energy so as to promote its high-quality development.
