Last year, during the first year of the 12th Five-Year Period (2011-2015), Guangdong officials stepped up efforts in its local large-scale infrastructure and new industrial key projects.
Guangdong launched a total of 280 provincial key projects, with a gross budget of 3.15 trillion RMB effectively speeding up the pace of upgrading the province's economic restructuring and strengthening its sustainable development potential. The annual input added up to 434.9 billion RMB, 101.1 percent of the annual plan and accounted for 25.7 percent of the province’s total fixed asset investments last year.
Key projects played an important role in the province's development amid the international financial crisis. During the 11th Five-Year Period (2006-2010), the province’s input in key projects totaled 1.3 trillion, 2.8 times of that of the previous five years.
In 2011, 21 key projects throughout the province were completed including four Shenzhen metro lines, the Guangzhou-Shenzhen-Hong Kong Passenger Railway, Jieyang Chaoshan Airport, SCOT 8.5G thin-film transistor LCD, and Zhaoqing South China Renewable Resources Industrial Base Phase I.
A total of 43 projects started construction, including two Guangzhou metro lines, the Sino-Singapore Guangzhou Knowledge City, the Railway Vehicle Base of China South Locomotive and Rolling Stock Corporation Limited (CSR）and the Sino-Kuwait Zhanjiang refinery project. Last year, Guangdong's newly built power generators had a total capacity of 11 million kilowatts, and car production capacity increased by 360,000 per year.
In 2011, Guangdong received the central government's final approval for 24 key projects, including the Shenzhen to Maoming Railway and the Pump Storage Power Station in Shenzhen, with a total investment of 242.2 billion RMB. A total of 27 additional projects worth 202 billion RMB, also received central government approval to begin preparatory work. More than 30 state owned enterprises are currently involved in provincial projects with a gross budget of 480 billion RMB.
(By Wing)
