Guangdong to invest $347b

GUANGZHOU: Guangdong province, one of the nation's key economic powerhouses, will spend 2.37 trillion yuan ($347 billion) on 222 items contained in 10 projects in the coming five years, the provincial development and reform commission said on Monday.

About 1.26 trillion yuan will go toward building expressways, extending railway tracks, refurbishing ports and airports, and building power generation plants, it said.

A total of 731.2 billion yuan will be used to boost the advanced manufacturing and modern service industries. They include iron and steel processing plants, refineries, and ship building and repairing.