China's economy takes off running in 2023(3)

Beijing

The construction of infrastructure projects has sped up after the Spring Festival holiday. On Jan 31, the first batch of 50 major projects was launched in Beijing, with a total investment of 48.6 billion yuan ($7.24 billion).

To improve the commercial environment in the capital, the Beijing Municipal Commission Development and Reform Commission also released a document to remove certain barriers to business.

The Chinese capital pledged to cultivate consumption in digital, cultural and ice-and-snow industries and support spending on housing improvements, new energy vehicles and elderly care services to revive the economy, according to the government work report.

To leverage the role of investment in optimizing the supply-side structure, Beijing will further promote 100 infrastructure projects, 100 projects for improving people's livelihood, and 100 projects for scientific and technological innovation and hi-tech industries.

Chongqing

In the southwestern municipality of Chongqing, more than 60 rotary drilling rigs were in simultaneous operation, at a construction site for Changan Auto's new factory, in January.

"With an investment of 6.3 billion yuan ($938.7 million), the project will have an annual capacity of 280,000 new energy vehicles," project director Wu Kezhi told Xinhua.

Chongqing is planning to launch 1,123 major projects this year, with total investments up 18.5 percent from a year earlier. The city has set the GDP growth target at over 6 percent for 2023.

Also in January, Liangjiang New Area in Chongqing signed 28 projects totaling over 30 billion yuan at its global promotion conference, as it has sped up its efforts to attract more international investment.