Guizhou plans 800b yuan in key investment for 2023

Southwest China's Guizhou province plans to implement more than 4,000 key projects with a total investment of 800 billion yuan ($118.09 billion) in 2023, with the purpose of expanding effective investment, optimizing the investment structure and maintaining investment growth, according to a recent work conference.

In 2022, Guizhou's industrial investment was estimated to account for about 26 percent of total investment, up 3.8 percentage points year-on-year. To promote the implementation of industrial projects, Guizhou launched various policies and issued 500 million yuan in provincial funds.

Last year, Guizhou started 1,267 projects with a total investment of 580.81 billion yuan, and strived to provide 133.91 billion yuan in funds to support the construction of 3,236 projects.

According to Huang Pengju, an official from the Guizhou Provincial Development and Reform Commission, Guizhou's industrial investment saw a two-digit increase in 2022. The province will continue to give priority to project construction, plan for more market-oriented and profitable projects that are in line with policies, and raise funds for project construction.

In 2023, Guizhou will issue about 49 billion yuan in provincial funds to promote the construction of 2,500 private-invested projects, help companies to upgrade equipment, and contribute to the overall improvement of the economy.