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Investment of 176.1 Billion: New Infrastructure Becomes the Fastest Growing Sector

By JIEYU WANGKAILONG TAN|Jul 15,2020

After pressing the "start button" for the all-around construction of significant projects in the first quarter, Chongqing's second-quarter project construction speeds up again. The quarterly investment reached 122.8 billion yuan, an increase of 20.5 billion yuan over the same period of last year, and a year-on-year increase of 20%, pushing the investment to hit 176.1 billion yuan in the first half of 2020, accounting for 51.1% of the annual investment plan. One hundred eighty-five new projects were launched, accounting for 50.4% of the total number of planned projects, with more than half of the tasks accomplished in the first half of the year.

In the past six months, Chongqing has focused on the construction of the Chengdu-Chongqing economic circle, accelerated the pace of integrated development, and promoted the formation and implementation of 16 major projects with a total investment of 386 billion yuan. So far, positive progress has been made in the preliminary work of the Chengdu-Chongqing Midline High-speed Railway and the Chongqing-Xi'an High-Speed Railway. The visual progress of the Chongqing section of the Luzhou-Yongchuan Expressway was completed at 78.4%. Construction began for Tongliang-Anyue Expressway and Bashu Intangible Cultural Heritage Industrial Park. Mobilization and construction kicked off in Western Chongqing South Sichuan Logistics Park. Annual five billion kilowatt-hours of inter-provincial and inter-regional power transmission and reception has been carried forward in an orderly manner.

Meanwhile, Chongqing has seized the opportunity of creating a pilot zone for innovative development of the digital economy and completed the reserve of new infrastructure projects, forming 375 projects with a total investment of 398.3 billion yuan in seven sectors, 21 specials. By far, 152 projects have been started with a total investment of 210.1 billion yuan. The first round of video link events for new infrastructure projects in 2020 has been held, commencing 22 new infrastructure projects, with a total investment of 81.5 billion yuan. New infrastructure projects have become the fastest-growing sector of investment, and citizens' happiness index and sense of gain have been constantly improved.

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