Economy

China to inject 2.6t yuan for Beibu Gulf economic zone's growth

(Xinhua)
Updated: 2011-03-14 09:17

BEIJING - The Beibu Gulf Economic Zone in south China's Guangxi Zhuang autonomous region would receive a total investment of 2.6 trillion yuan ($395.4 billion) over the next five years for growth, a senior local official said Sunday.

Related readings:  Security drill for Asian Games in Beibu Gulf  Pan-Beibu Gulf members ink port agreements

During China's 12th Five-Year Plan period (2011-2015), the economic zone would seek to upgrade its industries, improve transportation and logistics, and promote the development of local tourism through the construction of 2,375 projects, said Huang Daowei, deputy chief in charge of work coordinations for the non-public sectors of the economy in Guangxi.

Investment in these projects would likely reach 2.6 trillion yuan, with 630 billion yuan expected to be invested this year on 304 projects, including infrastructure building, industrial projects, energy savings, and environmental protection, Huang said at a private investment forum held in Beijing.

Huang said the local government would continue to guide and encourage private investment and promote the growth of private sectors.

The Guangxi Beibu Gulf Economic Zone is regarded as the most convenient gateway to the sea for southwest China, and a crucial bridge and base for enhancing cooperation between China and the Association of Southeast Asian Nations (ASEAN).