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Shenzhen will spare no effort to realize its fixed assets investment of 81.5 billion yuan (US$9.8 billion) and increase investment to 100 billion yuan (about US$12 billion) to ensure 15 percent growth in gross domestic product, says Mayor Yu Youjun.
Shenzhen, a front runner in China's reform and opening-up policies, is taking steps to promote economic growth, including finance reforms, effective absorption of private and foreign funds, and opening urban public utilities construction to private and foreign investment, said Yu.
Economic progress in the city will be boosted in coming years by about 200 major construction projects currently underway or in preparation, with a combined investment of over 220 billion yuan (26.6 billion US dollars).
Shenzhen's fixed assets investment grew by 15.5 percent in the first quarter of the year, up 2.6 percentage points over the same period last year. In the first four months of this year, investment in major construction projects amounted to 4.04 billion yuan (488 million US dollars), accounting for 20.2 percent of the total investment this year, up 4.5 percent on the same period last year.
(Xinhua News Agency May 13, 2003)
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