Guangzhou Launches Three Year Plan for New Infrastructure Development, Outlines USD$37.14 Billion in Initial Investment

 -  -  16


The Guangdong province capital of Guangzhou has launched a new “project library” for undertakings that are part of China’s new infrastructure development drive.

The Guangzhou municipal government recently approved the “Guangzhou Municipal Three Year Action Plan for Accelerating the Development of Digital New Infrastructure (2020 – 2022)” (广州市加快推进数字新基建发展三年行动计划(2020—2022年)), according to a 9 July report from National Business Daily.

The Plan focuses in particular on the four areas of 5G, artificial intelligence, industrial IOT, and smart power charging stations.

Guangzhou has already opened a new infrastructure project library, with 254 projects in the initial batch of undertakings worth total investment of 260 billion yuan (approx. USD$37.14 billion).

The Chinese central government recently flagged the use of investment in “new infrastructure” as a key means of providing stimulus to an economy still reeling from the impacts of the COVID-19 pandemic.

The 2020 Gov­ern­ment Work Re­port de­liv­ered by Pre­mier Li Ke­qiang on 22 May was the first to make men­tion of “new in­fra­struc­ture,” pointing to the need to “strengthen new in­fra­struc­ture de­vel­op­ment, de­velop a new gen­er­a­tion of in­for­ma­tion net­works, ex­pand 5G ap­pli­ca­tions, build power recharg­ing sta­tions, pro­mote clean en­ergy ve­hi­cles, spur new con­sumer de­mand, and as­sist up­grades in in­dus­try.”

Related stories

“New In­fra­struc­ture” Will Drive Chi­na’s Fu­ture In­dus­trial De­vel­op­ment: Gov­ern­ment Work Re­port

Ten­cen­t’s Pony Ma Touts “New In­fra­struc­ture” at Chi­na’s 2020 Two Ses­sions

Chi­na’s In­vest­ment in New In­fra­struc­ture Could Drive 1.5x Rise in Blockchain Spend­ing

China In­cludes Blockchain Tech­nol­ogy un­der De­f­i­n­i­tion of “New In­fra­struc­ture” as Part of 2020 In­vest­ment Am­bi­tions

16 recommended
comments icon 0 comments
0 notes
299 views
bookmark icon

Write a comment...

Your email address will not be published. Required fields are marked *