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Shanxi approves added investment of 36 billion yuan

( chinadaily.com.cn )

Updated: 2014-05-29

On May 26, the 46th executive meeting of the provincial government passed the first wave of programs for newly added investments for this year. The meeting was conducted by Gov Li Xiaopeng, and attended by member of the Standing Committee of Shanxi Du Shanxue, vice governors Guo Yingguang, Wang Yixin and Zhang Fuming, and secretary general of the provincial government Lian Yimin.

Most major projects have been moving along this year. Fixed asset investments in Shanxi, as a result, have witnessed a sustained growth. In particular, thanks to the process of optimizing the investment structure, investments in the non-coal industry, private enterprises and strategic emerging industries have been increasing rapidly and enjoyed a much larger share of the gross investment. However, it cannot be neglected that some projects are making slow progress because of a shortage in funds or technical difficulties.

To promote a sustained and rapid growth of fixed asset investment in Shanxi to stimulate economic growth, it was decided that the province would expand the investment scale on the basis of the investment plans set at the beginning of 2014. This decision will bring added investments of 36.45 billion yuan to some areas, which is 3.1 percent more than planned. The added investments include 3.5 billion yuan in railway projects, 11.25 billion yuan in water conservancy projects, 14.2 billion yuan in the improvement of rural living environments, 4.5 billion yuan in new energy resources projects, and 3 billion yuan in poverty alleviation and development.

Li Xiaopeng suggested at the meeting that departments at all levels should implement the investment plans set at the beginning of the year and the newly added investment programs. With the precondition that safety and quality are both guaranteed, the programs should go into full operation as soon as possible. Related departments and offices should intensify efforts to deal with the problems concerning the programs, such as personnel management and fund-raising. In addition, the provincial government should work out more added investment programs in shantytown redevelopment, highway construction, electricity grid construction and other areas.

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