Jiangsu revs up major investment project construction

East China’s Jiangsu province has stepped up the construction of major investment projects and ensured their smooth progress through every possible effort so as to fulfill goals for social and economic development. JSBC has the story.

The construction of Xiuzheng Biomedical Industrial Park with a total investment of 10.6 billion yuan was started in Huai'an District of Huai'an City on Thursday morning. 5.5 billion yuan will be invested in the first phase of this project to build a green intelligent biological medicine production base and build a first-class intelligent digital production line in China.

The first phase of the project is expected to achieve an annual output value of 5 billion yuan and bring 600 million yuan of tax revenue to the local government.

Xiu Laigui, Chairman of Xiuzheng Biomedical Group

It took us no more than four months for the project to go through the formalities from the signing to the project commencement. It took 7 days to complete the preparation of the implementation plan and obtain the land acquisition approval 30 days in advance. The process saved us 2 months.

Sun Jian, Director of Huai'an District Development and Reform Commission, Huai'an City

In January-February, Huai'an invested 3.817 billion yuan in 50 major provincial and municipal projects, 5 percentage points higher than the plan. It is expected that industrial investment growth will reach around 25% in January.

Huai’an has started 159 of the 220 major projects planned for the first quarter. Twelve of the fourteen major provincial projects have resumed work.