According to the Nanyang Development and Reform Commission, 87 major projects kicked off in Nanyang during the first quarter of the year, costing a total of 23.1 billion yuan ($3.7 billion).
The projects extend to many areas, including manufacturing, electronic information, clean energy, modern services, and infrastructure construction. Some of them entail an investment of over 1 billion yuan, such as the 1-billion yuan sci-tech incubation park for bearing industry in Fangcheng county, the 1.7-billion yuan Concord New Energy wind power development project, and the 3.5-billion yuan Orient Landscape project. These projects range from high-tech industrial projects with bright market prospects to service projects that enhance city amenities, and infrastructure construction projects that improve living standards.
Nanyang is determined to become a regional powerhouse by developing an advanced manufacturing industry, and hopes to invigorate itself through innovation and entrepreneurship. Scientific and technological innovation will be the city's new engine for economic growth and catalyst for transformation. The projects place a particular emphasis on areas such as new materials, advanced equipment manufacturing, and optoelectronics, with the aim of localizing scientific and technological achievements and industrializing intellectual property.