Shanghai's major projects show strong progress in first half of 2024

english.shanghai.gov.cn| July 17, 2024

Shanghai

Phase IV of the Shanghai Pudong Airport extension project. [Photo/WeChat account: shanghaifabu]

Shanghai's major projects have shown significant progress in the first half of 2024, surpassing the halfway mark of the city's annual investment plan, according to the Shanghai Municipal Commission of Housing and Urban-Rural Development and the Shanghai Major Project Construction Office.

With a total of 191 major projects planned for the year and an investment target of 230 billion yuan ($31.65 billion), the projects collectively achieved an investment completion of 122.64 billion yuan by the end of June.

Infrastructure projects led the investment charge, reaching 49.59 billion yuan, with the Shanghai East Railway Station project and the Pudong Airport Phase IV expansion project making notable progress.

The science and technology sector saw investments totaling 54.46 billion yuan, exceeding expectations. Particularly, the integrated circuits, biopharmaceuticals, and artificial intelligence industries achieved significant progress, surpassing over half of their annual investment targets by May.

Social and livelihood projects, with an investment completion of 4.8 billion yuan, are prioritizing high-quality education and healthcare facilities. Notable projects include the National Children's Medical Center and Shanghai University of Electric Power's Lin-gang Campus Phase III project.

Culture and sports projects are steadily advancing towards constructing top-notch venues. The International Equestrian Center has hosted international events, while plans are underway for the completion of the Shanghai Grand Opera House and the new theater at Shanghai Circus World next year.

Ecological civilization projects saw an investment completion of 5.94 billion yuan, while urban-rural integration and rural revitalization projects achieved an investment completion of 7.86 billion yuan.

Several major projects commenced construction as scheduled in the first half of this year. Additionally, the Tesla Shanghai megafactory, initially a reserve project, began construction ahead of schedule.

 

Source: "shanghaifabu" WeChat account