Projects in Taizhou city surge in first quarter

A glorious sunset takes place over Taizhou city. [Photo/WeChat ID: tzfabu]

Taizhou city in East China's Jiangsu province achieved record-breaking milestones this year with 27 projects listed as major provincial projects – 24 of which are underway.

They involve total investment of 67.13 billion yuan ($9.26 billion), with 18.18 billion yuan planned for this year.

In the first quarter, Taizhou completed project investments worth 5.3 billion yuan, reaching 25.4 percent of the annual plan. Major projects saw double-digit growth in starts, completed investments and projects under negotiation, maintaining the province's lead.

Talks are ongoing for 90 projects costing over 1-billion-yuan each – including 15 projects over 5 billion yuan each and 5 projects over 10 billion yuan each, representing increases of 36.4 percent and 150 percent, respectively, compared with the same period last year.

There are 53 projects under approval, including seven with investments over 5 billion yuan each and four projects exceeding 10 billion yuan each, marking increases of 133.3 percent and 300 percent, respectively.

In Q1, 31 new projects worth over 1 billion yuan each were signed, 52 projects over 500 million yuan each commenced and 35 projects over 500 million yuan each were completed – representing increases of 138.5 percent, 92.6 percent and 66.7 percent, respectively, compared with the previous corresponding period.

In all, 222 projects costing over 100 million yuan each commenced construction in Q1, with a total planned investment of 117.67 billion yuan and an annual projected spending flow of 48.42 billion yuan.

The city plans to start construction on 110 more projects in the second quarter – aiming for over 600 projects exceeding 100 million yuan each in investment and total investment exceeding 350 billion yuan by the end of the year.

A raft of construction of projects in Taizhou are now in full swing. [Photo/WeChat ID: tzfabu]

In 2024, Taizhou aims to sign up 120 projects worth over 1 billion yuan each, start construction on 200 projects costing over 500 million yuan and complete construction on 120 projects worth over 500 million yuan each.