Beijing to invest US$40 billion in key projects in 2017

The city of Beijing plans to invest 274.4 billion yuan (about US$40 billion) in a total of 230 key projects in 2017, an increase of 20 projects from the year earlier.

The fixed-asset investment of the municipal government will reach 55 billion yuan in 2017, a year-on-year increase of 6.5 percent. Apart from the government, other kinds of investment will also be used, including PPP (public-privation partnership), capital investment and investment in funds.

A total of 274.4 billion yuan will be invested in 230 key projects in 2017, which will contribute more than 30 percent of the overall investment. Investment will focus on basic education, the aged care, renovation of the city’s shantytown, air pollution, traffic congestion, water quality, garbage disposal and other areas that the public is most concerned.

Beijing’s transportation will involve 19 key projects, the shantytown renovation projects 11 projects, the public service 14 projects. And the coordinated development of the Beijing-Tianjin-Hebei region will carry out 62 projects. Beijing also plans to invest 38.4 billion yuan in 61 infrastructure projects this year, including the first phase of the new airport line and other 21 rail transit projects.