Investments of $34b to help transform Jiangxi

Total investments of 234 billion yuan ($34 billion) - to be injected into Jiangxi province by State-owned enterprises - will help significantly transform the local economy, senior government officials from the province said.

The huge amount of investment is the result of an initiative between Jiangxi provincial government and the State Council signed in 2013 - to introduce more SOEs into Jiangxi.

The province is already on the move, being one of China's top 10 provincial regions with the fastest economic growth. Last year it posted GDP of 1.84 trillion yuan, with a growth rate of 9 percent year-on-year, compared with the mainland's overall economic growth of 6.7 percent.