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Full Efforts Intensified in Jiaxing to Enlarge and Enhance Investment in Fixed Assets

Release date:2023-02-14 16:30

Investment in fixed assets is an important driver for economic growth, transformation and upgrading. Since the beginning of this year, Jiaxing has made efforts in epidemic prevention, economic stability and safe development, expanded effective investment, especially in major projects to promote economic quality and steady development and implemented the action “Project Challenge Year” to create a sound momentum for enlarging effective investment, improving investment quality and pushing ahead with major investment projects.

Jiaxing has made extraordinary progress in propelling the construction of major projects. The groundbreaking ceremony of Nantong-Suzhou-Jiaxing-Ningbo High-speed Railway (the part located in Zhejiang) was held on Nov. 30, 2022. It is an import part of the national high-speed railway network made up of eight south-to-north and eight east-to-west high-speed railways, a major project of the construction of the Greater Bay Area and Major Corridor of Zhejiang and one of the top 10 “projects each with a 100-billion-yuan investment” of building a leading transportation province. This project has a total investment of 108.1 billion yuan, including 62.7 billion yuan in its 166-kilometer-long part in Zhejiang. As Jiaxing’s first railway running from the north to the south, it will be of great significance to further promoting the development of the Economic Belt of the Yangtze River, the integrated development of the Yangtze River Delta and the improvement of the layout of the regional railway network.

The construction site of the flagship factory of the drive motor of Nidec Auto Motor of New Energy Vehicles is full of construction equipment and busy construction workers. With a total of 2.5 billion yuan, this project started its construction on September 23, 2022, and is scheduled to be put into operation in June 2024, after which it will produce one million sets of drive motors each year and achieve eight-billion-yuan annual output value. This project will help Pinghu produce the key components of the drive motors of new energy vehicles.   

The data show that, as of November 30, 2022, the MPI of Jiaxing’s province-level “4+1” major projects reached 104.3 scores, ranking the first in Zhejiang; the total investment of 87 major projects totaled 29.8 billion yuan, reaching 116.3% of the investment plan and ranking the second in Zhejiang. All new projects started their construction. 36 projects that participated in the collective groundbreaking ceremony of Zhejiang’ major projects started their construction and been put into storage. The investment of Jiaxing’s province-level major projects reached 128% of the plan. The investment in 430 “551” projects at the municipal level totaled 135.4 billion yuan.

As one of the driving forces of economic growth, investment is of great importance. The investment in fixed assets of Jiaxing will increase by 10% in 2023, according to the Second Plenary Meeting (enlarged) of the 9th CPC Jiaxing Municipal Committee & the Economic Work Conference of the CPC Jiaxing Municipal Committee. How to achieve this goal?

Jiaxing will thoroughly implement the spirit of the 20th National Congress of the CPC, adhere to the idea that efforts in investment means those in development and future, highlight the leading role of major projects such as major traffic, industry and livelihood projects and fully push ahead with the projects concerning the development of advanced manufacturing industry, the construction of public service facilities and housing to achieve a total investment of over 320 billion yuan in 2023, and stabilize economic growth, market entities and employment to build Jiaxing into a model city of common prosperity and a pioneer city of socialist modernization by means of high-quality investment, according to Xu Mingliang, director of the Development and Reform Commission of Jiaxing.

Efforts will be intensified in three aspects. First, efforts will be made in the reserve of projects. In order to build an important central city of the urban agglomeration of the Yangtze River Delta, Jiaxing will make a plan to reserve a number of major projects such as those concerning transportation infrastructure, energies, social undertakings and industrial parks, all of which are greatly necessary for urban development and strongly supported by national and provincial policies, special bonds and financial instruments. Up to now, nearly 4,000 investment projects with a total investment of 2.1 trillion yuan have been reserved for 2023.

Second, efforts will be made to give play to the leading role of major projects. In 2023, the Development and Reform Commission of Jiaxing chose 10 projects in modern industries, infrastructure, social undertakings and public construction supporting facilities as major projects based on their investment scales, demonstration effect and roles so as to give full play to their leading roles.

Third, efforts will be made in constructing and promoting new projects. In order to boost the construction of major projects, Jiaxing will improve working mechanisms, accelerate the projects under construction like Jiaxing Airport, Jiaxing-Fengnan Railway and the Nantong-Suzhou-Jiaxing-Ningbo High-speed Railway and work hard to attract more investment. More resources will be provided and the scheduling mechanism will be established for new projects to accelerate their construction such as Huayou Lithium Battery Manufacturing Base and ensure the start of the construction of 80% of new projects in the first half of 2023, and of all new projects in the first three quarters of the year.