Guangzhou will inject 82.6 billion yuan this year into more than 100 key development projects, which is expected to lead to fixed-asset investment of approximately 360 billion yuan, announced officials at the recent Guangzhou Development Work Conference.
At the press conference, Pan Jianguo, director of the Guangzhou Development and Reform Commission, presented a report entitled "Promoting Transition and Upgrading by Pursuing Scientific Development and Striving for a Good Beginning for the 12th Five-Year Plan Period". According to Mr. Pan, Guangzhou will set its sights on achieving an 11% GPG growth this year.
Executive Vice Mayor Wu Yimin was quoted as saying: "Since the Asian Games, the city administration system has been further reformed, and 64 power relegation measures have been introduced. We're striving to maintain Guangzhou's status, which has been established over the past twenty years, and to ensure the Guangzhou's No. 3 position among Chinese cities will not slide."
Guangzhou's strong growth momentum is attributable to the city's solid economic foundation. According to Mr. Pan, Guangzhou will inject approximately 82.6 billion yuan into 101 key projects this year, which are expected to lead to fixed-asset investment of about 360 billion yuan.
Guangzhou will also take full advantage of Asian Games heritage to offer tours to games venues along the Flower City Square, Haixinsha and Guangzhou Tower as a new sightseeing zone for the city. The city's expanding high-speed rail links to neighboring cities are also expected to contribute further to economic growth.
Moreover, Guangzhou will draw up plans to relocate the second batch of 100 industrial enterprises to make way for service businesses, and a number of profitable high-tech enterprises with extended production chain will also be introduced.
Furthermore, the city will press ahead with the construction of Metro Lines 6, 7 and 9, kick off the construction of the Guangzhou section of the rail links to Dongguan, Shenzhen and Foshan, and speed up the progress of the construction of the railways to Guiyang and Nanning.
