|
Shanghai, China's major industrial and commercial center, is forecasting a record-high 220 billion yuan (26.8 billion US dollars) of fixed asset investment for 2003, a rise of nearly 10 percent year-on-year, according to local government officials.
Li Liangyuan, director of the Shanghai Municipal Development Planning Commission, which operates under the supervision of the municipal government, said Sunday the city would guarantee government funding for the projects, while at the same time, more substantial efforts will be made to draw private investment.
Fixed asset investment for 2002 totaled 215.84 billion yuan (some 26.3 billion US dollars), a record high, and non-State sectors accounted for 65.1 percent of the total.
Priority projects for 2003, said the director at the first session of the 12th Municipal People's Congress, include the second phase project of Pudong International Airport, the Pudong Railway and infrastructure projects related to the new-generation telecommunications network.
Also this year, the director noted, Shanghai city will speed up the construction of its four leading industrial centers which its focus on micro-electronics, automobile manufacturing, chemical production as well as top-grade steel production.
(Xihua New Agency February 17, 2003)
|
