High-tech district confirms major projects worth $14b

Baotou Rare Earth High-Tech Industrial Development Zone has confirmed a total of 122 key projects worth more than 100 million yuan ($14.50 million), 20 projects more than in 2016, reports Baotou Daily.

The figure represented year-on-year growth of 19.6 percent. The 122 projects are expected to draw investment of 94.15 billion yuan in total and 35.58 billion yuan will have been spent on the projects by the end of 2017.

Of the 122 projects, 77 are new projects starting in 2017 worth more than 31.59 billion yuan, and 19.2 billion yuan of their funds is expected to have been spent by the end of 2017.

The high-tech district has set economic goals for 2017 and is expected to see 8.5 percent growth in GDP, 16 percent growth in fixed investment and 10 percent growth in the added value of industrial enterprises above a designated scale.

The projects, covering a range of areas including agriculture, industries, urban construction and real estate, will help boost the economic development of Baotou city.