City projects welcome investment

The Qingyuan city in Guangdong Province held a grand ceremony yesterday to launch a large batch of projects and to secure the maximum investment for its second round of economic development.

Qingyuan is around 50 kilometres to the north of Guangzhou, the provincial capital of Guangdong in South China, and is in the "backyard of the flourishing Pearl River Delta.''

A total of 221 projects were launched yesterday, with a total investment of 50.3 billion yuan (US$6.06 billion).

The city signed contracts for 26 projects involving an investment of 24.5 billion yuan (US$2.95 billion), broke ground for 70 projects involving an investment of 15.4 billion yuan (US$1.86 billion), and put into operation 125 projects involving an investment of 10.4 billion yuan (US$1.23 billion).

Of all the projects, 140 are related to manufacturing, 69 involve tertiary industries, and the remaining 12 are agricultural.

"When completed, the projects are expected to realize an output value of over 75 billion yuan (US$9.04 billion) and raise taxes of over 6 billion yuan (US$722.89 million) annually,'' said Liu Zhigeng, mayor of Qingyuan, at a press conference organized by the Guangdong Provincial Information Office yesterday.

While strengthening the city's industries, the projects are expected to help lure more investors to Qingyuan, he said.

A stronger and more dynamic manufacturing industry will fit into the city's blueprint for the second round of the economic development, he said.

The city encourages business people, either from home or abroad, to invest here to help Qingyuan tap its advantages and potential, he said, investors will at the same profit from the advantages.

According to the mayor, Qingyuan enjoys advantages in its geographical location, its environment, preferential policies and abundant natural resources.

Neighbouring the prosperous Pearl River Delta, Qingyuan boasts more than adequate power supplies, and the city has a range of preferential policies including tax incentives, very few administrative charges, low-cost or even free land use for projects the city particularly encourages.

He said the development of the city's ecological industrial park has made great headway, and the park is becoming increasingly attractive to investors.

Some 80 projects have been set up in the park, with an investment of more than 16 billion yuan (US$1.93 billion).

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