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Construction Projects Planned for Beijing
Beijing will stage more infrastructure construction projects to set back the declining trend of its investment on fixed assets, Yuan Zhenyu, director of the Beijing Municipal Planning Commission, said Wednesday.
Yuan told the Standing Committee of the 11th Beijing Municipal People's Congress (BMPC) that the committee is preparing for the massive projects of the renovation of Guang'an Avenue, Xiwai Avenue and Dewai Avenue, the construction of new subways, and the building of a new exhibition hall for the Capital Museum.
"We are endeavouring to start them as soon as possible," he said.
At the beginning of this year, the municipal government listed 50 infrastructure projects and planned to invest 35.02 billion yuan (US$4.2 billion).
But because of various reasons like slow progress in resettling residents, irresponsible proprietors, and poor management and supervision, only 6.82 billion yuan (US$823.7 million), 19.5 per cent of what was planned, has been invested in the first half of this year.
The city has managed an impressive 12 per cent increase in its gross domestic production this year, the highest level in the municipality since 1996.
However, Yuan acknowledged it would be "very difficult" for the city to realize the set goal of this year to invest 93 billion yuan (US$11.2 billion) on fixed assets, 12 per cent higher than that of last year's, even though all the projects were started as planned.
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