Intensive Construction of Major Projects Commences in Hubei Province
On the morning of October 26, a centralized start-up event for major projects in Hubei Province in the fourth quarter of 2023 was held. The event was attended by Wang Menghui, Secretary of the Provincial Party Committee and Director of the Standing Committee of the Provincial People’s Congress, who announced the intensive start of construction. Wang Zhonglin, Deputy Secretary of the Provincial Party Committee and Governor, delivered a speech, while Zhuge Yujie, Deputy Secretary of the Provincial Party Committee, also attended the meeting.
The economic operation of Hubei Province has shown a positive trend, with a consistent rise in each quarter this year. Project investment has played a crucial role in supporting and propelling this growth. The province currently has 12,000 projects under construction worth over 100 million yuan, of which 126 projects are valued at 10 billion yuan. The total investment in these projects amounts to 2.03 trillion yuan, both of which have reached record highs. Fixed asset investment growth from January to September is 5.5%, 2.4 percentage points higher than the national average, securing the province’s first position in central China.
In the most recent phase, 2,076 projects worth more than 100 million yuan have commenced, including 10 projects valued at tens of billions. The total investment in these projects reached 1.06 trillion yuan, surpassing historical figures for the same period. Furthermore, 61.4% of the investment is concentrated in advantageous industries such as new energy, intelligent connected vehicles, and optoelectronic information. These emerging characteristic industries are playing a significant role in industrial transformation, upgrading, and innovation-driven development.
Regarding the importance of investment in expanding domestic demand and stabilizing growth, Wang Zhonglin emphasized that the major projects initiated at this time are of large scale, excellent quality, well-structured, and possess strong growth potential. He believes these projects will inject new momentum into the province’s economic advancement, quality improvement, and long-term development. Wang stressed the need to implement the instructions and arrangements of General Secretary Xi Jinping, the Party Central Committee, and the State Council. He urged all of Hubei Province to leverage the current golden period of project construction with a sense of urgency and responsibility. Vigorous pursuit of projects, expansion of investment, and promotion of development are required to ensure the achievement of annual goals and tasks. Wang also highlighted the significance of improving progress, consolidating responsibilities, and strengthening precise scheduling in project management. He emphasized the necessity of providing excellent services, deepening comprehensive evaluation of investment project performance, simplifying processes, and ensuring all elements are in place to accelerate project construction. Lastly, he emphasized the importance of focusing on key areas to increase project resilience and support decisions related to the comprehensive management and coordinated development of river basins, construction of three major metropolitan areas, and concentrated and high-quality development of cities and industries.
The main venue for this centralized start-up event was held at the Wuhan Economic Development Zone smart vehicle R&D and smart manufacturing industry base project site. Other city and state branch venues simultaneously conducted their respective groundbreaking activities. Prominent attendees included Guo Yuanqiang, Wang Qiyang, and Shao Xinyu, who attended the event at the main branch venue. Cheng Yongwen, Mayor of Wuhan City, and officials from the Provincial Development and Reform Commission as well as Xiangyang, Yichang, Shiyan, and Huangshi cities, introduced the commencement of major projects.
During the event, Ai Bowen, senior vice president of the Passive Safety Division of ZF Group, introduced the smart vehicle R&D and smart manufacturing industrial base project in Wuhan Economic Development Zone. This project, jointly invested and constructed by ZF Asia Pacific Group and Wuhan Chegu Chengfa Group Co., Ltd., will see an investment of 10 billion yuan. It aims to establish a smart car core parts production and research and development base, an automotive software research and development center, an incubation center, an industrial service center, and more. It is projected to achieve an annual revenue of 22 billion yuan after reaching full capacity.
Source: Hubei Daily all-media reporter Yang Nianming