New projects inject fresh energy in Xuzhou

Xuzhou city in Jiangsu province secured 24 investment projects during the 18th China Xuzhou Investment Fair and 9th Tourism Festival of Han Dynasty Culture held on Oct 21.

Combined, the investments total 14.4 billion yuan ($2.27 billion) and are primarily related to fields such as water, transportation, environment protection, education and health care.

The fair focused on the topics of upgrading industries and the development of contemporary urbanization. 116 projects were promoted at the fair, five of which are foreign-funded ones worth more than $30 million. For projects using domestic capital, 21 of them have exceeded investments of one billion yuan (approximately $157 million).

Forty-five?public-private-partnership (PPP) projects were listed as municipal level projects during the fair; each has investments totaling hundreds of billion yuan.

"The new projects will inject fresh vigor into Xuzhou's economic development and help fortify the city's position as a leader in the Huaihai economic region of Jiangsu province," said Cao Xinping, secretary of the Xuzhou municipal Party committee.

As of October this year, more than 60 enterprises in Xuzhou have five billion yuan or more in financing. Functioning as an important city along China's Belt and Road initiative, the development of Xuzhou's economy will benefit Jiangsu as a whole and increase the potential for foreign investments to flow into China, according to Cao.

The inauguration of the 18th China Xuzhou Investment Fair and 9th Tourism Festival of Han Dynasty Culture on Oct 21. [Photo/chinadaily.com.cn]

Foreigners attend the 18th China Xuzhou Investment Fair and 9th Tourism Festival of Han Dynasty Culture on Oct 21. [Photo/chinadaily.com.cn]