An aerial view of Huangshan city, which is ramping up efforts to boost its economy. [Photo/WeChat ID: gh_fddd8e6b4139]
Huangshan city in Anhui province started 23 projects in the first quarter of 2023, with a total investment of 11.78 billion yuan ($1.71 billion) and an annual planned investment of 4.16 billion yuan.
Among these were 10 manufacturing projects, with a total investment of 1.71 billion yuan and an average investment of 5.53 million yuan per mu (about 666.7 square meters). There were also five high-tech projects, with a total investment of 850 million yuan.
One major project is Huangshan Mingyuan New Material Technology Co Ltd's green paper products production base, with a total investment of 300 million yuan.
Another is Kerun Intelligent Control Co Ltd's intelligent switchgear production project, with a total investment of 280 million yuan, which will have an annual output capacity of 5,000 sets.
The city's fixed asset investment is expected to grow by 10 percent in the first quarter of 2023. Of that, manufacturing investment is expected to grow by 15 percent.