China approves 50 high-tech and water conservation projects worth ¥320.7 billion in first four months of 2024

File photo.

21st May 2024 – (Beijing) China’s National Development and Reform Commission (NDRC) has given the green light to 50 fixed-asset investment projects valued at ¥320.7 billion (approximately $45.1 billion) during the first four months of this year. These projects, predominantly focused on high-tech industries and water conservation, were announced by NDRC spokesperson Li Chao during a press conference on Tuesday.

In April alone, the NDRC approved 20 fixed-asset investment projects worth ¥115.2 billion, according to Li.

During the period from January to April, China’s fixed-asset investment grew by 4.2 percent year on year, reaching ¥14.34 trillion. This growth was facilitated by government policies aimed at expanding effective investment in the country.

Notably, investment in large-scale equipment renewals experienced significant expansion, thanks to supportive government policies. Investment in equipment and instruments surged by 17.2 percent compared to the previous year, exceeding the overall investment growth rate by 13 percentage points.

Looking ahead, the NDRC plans to maximize the role of market entities and encourage private firms to actively participate in equipment renewals and consumer goods trade-ins. By doing so, they aim to stimulate investment and drive further growth in these sectors, as stated by Li.

The approval of these investment projects reflects China’s commitment to advancing high-tech industries and prioritizing water conservation initiatives. With a clear focus on sustainable development and technological advancements, China aims to solidify its position as a global leader in these sectors.

As the country continues to implement strategic policies and foster a favorable investment environment, the Chinese government remains dedicated to promoting economic growth and supporting key sectors that contribute to the nation’s long-term development