$11.7b set for 82 projects this year

GUANGZHOU: The capital of Guangdong province will pump in an investment of 80.65 billion yuan ($11.7 billion) for 82 key projects this year, Mayor Zhang Guangning said yesterday.

"Apart from infrastructural projects for the 16th Asian Games to be held in Guangzhou next year, the money will be used for improving roads and traffic, the living standard of our residents, and building modern industries," the mayor announced while opening the annual session of the people's congress of Guangzhou.

Zhang said the city government will pool in a capital of "350 billion yuan in the next two years for construction projects, which will stimulate a fixed assets investment of about 500 billion yuan".