Zhuhai to invest $41.8b into major 2023 projects

Zhuhai Municipal People's Government plans to invest 291.6 billion yuan ($41.8 billion) into 198 projects in 2023, among which 20.22 billion yuan ($2.9 billion) will be completed within the year.

This year, a total of 19 billion yuan ($3 billion) will go to four major sectors of industrial infrastructure, transportation infrastructure, urban development, and services that further people's livelihood.

Zhuhai will allocate 4 billion yuan ($574 million) to an incentive fund for local industrial parks in the infrastructure construction sector. Incentives will be rewarded to activities such as building industry 5.0 space projects, preparing land lots, and upgrading local supporting facilities. An additional 1.3 billion yuan ($186.6 million) will act as a subsidy for building public service facilities like kindergartens.

A view of the beautiful seaside in Zhuhai [File photo by Wu Changfu / Zhuhai Media Group]

Major transportation projects such as the Zhuhai-Jiangmen section of the Zhuhai-Zhaoqing High-speed Railway, Huangmao Sea Channel, and Zhuhai Tunnel will move forward their construction schedules this year. They have a total investment of 9.9 billion yuan ($1.4 billion).

In addition, an overall investment of 6.59 billion yuan ($946.26 million) will go to urban construction, 1.85 billion yuan ($265.91 million) of which will be completed this year.

Investment funding to improve people's livelihood accounts for 9.7 percent of the total plan, hitting 5.68 billion yuan ($815.69 million). The renovation and expansion projects of local schools, hospitals, and cultural and art venues will also be accelerated.