Shenzhen will see fixed-asset investment continue to grow strongly in 2020, the city government says, with projects under way budgeted to cost around 177 billion yuan, 23% more than 2019.
Infrastructure will be a big part of this, including 12 rail transit projects under construction. Others include the redevelopment of Binhai Avenue in Nanshan, where the futuristic Shenzhen Bay Headquarters Base is being built, and the establishment of a National Science Center in the Guangming “Science City” district.
New projects worth 65.7 billion yuan will be started in 2020, an increase of about 15.9% over 2019.
This could be the year that Shenzhen finds innovative ways to finance its investment drive. Besides increasing the issuance of general bonds and special bonds, and seeking support for new bonds, it will explore the issuance of “green bonds” overseas. Moreover, it will look into further developing models of public-private participation (PPP), while “breaking administrative monopolies and market barriers”, the report said.
The ultimate goal, it said, is “fully opening up social capital, especially private capital, to infrastructure and public service areas traditionally invested by the government, and encouraging and guiding social capital to actively participate in the construction of urban infrastructure.”
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