Ningxia launches 886 key projects worth $49.33b

Ningxia Hui autonomous region launched 886 major projects on Monday that have a total investment of 330.8 billion yuan ($49.33 billion) and an annual planned investment level of 83 billion yuan.

The commencement ceremony was held in the 6GW new energy equipment manufacturing industrial park of Chint Group in Yanchi county.

As China's first comprehensive new energy demonstration zone, Ningxia has unique resources, policies and industrial advantages for the development of new energy. Clean energy industries such as photovoltaic and wind power hold great potential for future development.

Nan Cunhui, chairman of Chint Group Co Ltd, said that the company will invest 29.3 billion yuan in Yanchi to build a 6GW new energy equipment manufacturing park and a 5GW photovoltaic power generation project, and create a photovoltaic industry chain based on silicon materials and batteries, which will contribute to achieving the nation's carbon peaking and carbon neutrality goals.

It is reported that by the end of April, the investment completion rate of the first batch of major projects in Ningxia was 23 percent, which was 3 percentage points higher than that of the same period last year.

It is expected that the second batch of projects will complete investment of 18 billion yuan by the end of the first half of the year, and that by then the completion rate will have reached 22 percent.