Ningbo, a city in Zhejiang Province, China, has launched the intensive start-up activity of major projects worth “Thousands of Trillions”. On July 4th, nine projects in Ningbo participated in the concentrated construction, with a total investment of 79.5 billion yuan ($12.2 billion) and an annual investment of 6 billion yuan ($923 million).
In an effort to accelerate the implementation of these major engineering projects and promote high-quality economic development, Ningbo has once again increased its investment in the beginning of the second half of the year. The city aims to expand its infrastructure and boost the local economy.
Among the nine projects, five are transportation infrastructure projects, with a total investment of 31.44 billion yuan ($4.86 billion). These projects will add 69 kilometers of roads and railways to Ningbo, laying a solid foundation for the city’s development as a modern coastal metropolis.
One of the major projects is the construction of the Ningbo section of the G9221 Hangzhou-Ningbo Expressway. The project will be completed in three phases, with the third phase connecting Ningbo Zhoushan Port area, spanning a total length of 26.151 kilometers.
Since 2023, Ningbo City has been actively implementing the deployment of the 15th Provincial Party Congress and the Second Plenary Session of the 15th Provincial Party Committee. As a result, there has been a surge in major project construction throughout the city.
According to the 2023 Municipal Key Project List issued by the Ningbo Municipal Development and Reform Commission, a total of 452 municipal key projects will complete an annual planned investment of 211.9 billion yuan ($32.7 billion). The completion rate for the first five months of 2023 has reached 47.5%, with key engineering projects in the service industry, urban construction, and industrial fields all exceeding 50%.
The start of the nine major projects is just the beginning of the construction of key projects in Ningbo for the second half of the year. Moving forward, Ningbo will continue to enrich its project library, promote the early start of new projects, and ensure the smooth progress of ongoing projects. The city will also provide support and coordination services to address logistical challenges, such as equipment and material shortages, to ensure the successful implementation of the “thousands of trillions” projects at the provincial level.
With these efforts, Ningbo is well on its way to becoming a model of a Chinese-style modern city and achieving its goals of high-quality economic development.