Shenzhen kicked off construction of 245 projects for the first quarter Thursday, involving a total investment of 235.47 billion yuan (US$37 billion).
The projects include major infrastructures, science and industrial projects, and projects for residents’ well-being, according to an inauguration ceremony held Thursday. A total of 44.39 billion yuan of investment will be made in the projects this year.
Among them, 129 projects will be funded by governments, involving 31.15 billion yuan of investment, of which 9.4 billion yuan will be invested this year, accounting for 21.2 percent of the total investment for all the projects in 2022.
Investment in the remaining 116 projects will come from social funds, which totals 204.32 billion yuan, including 34.99 billion yuan for this year, which accounts for 78.8 percent of the total investment for all the projects in 2022.
Thursday’s inauguration ceremony was attended by Mayor Qin Weizhong and witnessed the signing of agreements on 11 projects involving 11 enterprises mainly engaged in industries of biopharmacy and health, new generation technologies, new materials, green and low carbon, and modern logistics. These projects will cost 21.3 billion yuan in total, among which 1.37 billion yuan will be invested this year.
At a ceremony in Nanshan District on Wednesday, the district kicked off work on 246 transportation projects for the coming three years, involving a total investment of 16.5 billion yuan.
The No. 1 project is the renovation of Keyuan Boulevard, which will turn it into a 12-kilometer Star Avenue of Science that links Xili Lake Science and Technology Town, Liuxiandong Strategic and Emerging Industries Headquarters Base, Shenzhen Hi-Tech Industrial Park, and the Houhai area through underground space development that coincides with Metro Line 13’s construction.
By the end of 2024 when the projects are completed, the district’s road network is expected to extend 626 kilometers, with 5.41 kilometers per square kilometer in density.