Wenzhou’s fixed asset investment grew steadily in 2023

According to the data released by the Wenzhou Municipal Bureau of Statistics recently, the city’s fixed asset investment grew by 7.4 percent year on year in 2023, 1.3 percentage points higher than the provincial average. Its fixed asset investment, achieving steady growth and continuous structural optimization, became the high-quality‘stabilizer’ and‘power source’ of Wenzhou’s economy and society.

From the perspective of major investment fields, investment in manufacturing maintained its growth momentum, surging 14.2 percent year on year, 0.1 percentage points higher than the provincial average; investment in high-tech industries continued to improve, up 29.0 percent year on year, 7.9 percentage points higher than the provincial average, and its proportion in total investment was 2.2 percentage points higher than a year earlier; investment in industrial technological transformation increased by 13.9 percent from a year earlier, indicating the acceleration of the industrial transformation and development; investment in infrastructure achieved a rapid growth of 18.3 percent year on year, 14.4 percentage points higher than the provincial average; private investment rose 2.0 percent year on year, 2.2 percentage points higher than the provincial average, and the investment in private projects increased by 7.3 percent.

Specifically, the investment in large projects significantly stimulated the overall development of the city. Last year, the investment in projects with a planned investment of more than 100 million yuan each, increased by 14.0 percent year on year, a growth rate of 6.6 percentage points faster than that of the overall fixed-asset investment, stimulating overall investment to increase by 5.2 percentage points. Among them, investment in projects with a planned investment of more than one billion yuan rose 12.1 percent year on year.

Being mutually corroborated by the surging statistics,“large, good and high-end” projects were launched all over Wenzhou, executed one after another, constructed at an accelerated pace, and utilized as soon as possible. These projects with large investment, new industries, broad prospects, and good benefits played a strong role in supplementing the shortcomings of people’s livelihood, enhancing urban function, and stimulating economic growth.

Last month, the first new generation 5MWh liquid-cooled smart energy storage system of Windey Energy Technology Group Co., Ltd. (Wenzhou) Smart Energy Storage Production Base rolled off the assembly line, marking the official operation of one of the“three bases” of Dongtou Wind Power Zero-Carbon Industrial Park— the Smart Energy Storage Production Base, after which, the entire project adopting high-end automated assembly equipment would have an annual production capacity of 2GWh smart energy storage equipment, with an annual value of production of approximately 1.5 billion yuan, promoting Wenzhou’s development of the entire industrial chain of nuclear, wind, solar, water and hydrogen energy, pumped-storage hydroelectricity, and energy storage.

On February 2, the reconstruction project of the section from Siqian Town to Luoyang Town of National Highway 235 in Taishun County was opened to traffic, and the driving time between the two towns was shortened to about 10 minutes. The completion of the project effectively supplemented the drawbacks of the county’s transportation development, further alleviated the traffic pressure in the downtown area, smoothed the traffic of outbound arterial roads, and was of great significance to promoting economic development along the highway.

Having insisted on largely resolving around projects and focusing on large projects, deeply implemented the plan of“establishing hundreds of projects with investment of over 100 billion yuan”, and made every effort to consolidate the provision of all types of factors of production since last year, Wenzhou had twice been awarded the provincial“horse racing” incentives for investment and five-star ratings of the implementation of the plan of“establishing thousands of projects with over one trillion yuan”. The rates of its major projects’ completion of investment and initiation of construction, among those thousands of provincial projects, both ranked first in the province. The implementation rate of provincial, municipal, and county heads of governments projects exceeded the annual target ahead of schedule. The city also organized 38 projects to participate in the concentrated execution of major projects in the province, and the investment scale reached a record high.

In 2024, Wenzhou will persist in deepening the supply-side structural reform and put effort into boosting effective demand through coordinated efforts, continue to focus on expanding effective investment, optimize the investment structure, increase the proportion of industrial investment, and plan to implement 576 major projects and complete an annual investment of more than 130 billion yuan; upgrade the mechanisms of“horse racing” incentives for investment and coordinated promotion of major projects; apply a new mechanism for cooperation between the government and private capital to allow private capital to invest with proper orientations and promising returns; and make every effort to strive for policy support for national ultra-long-term treasury bonds, local government special bonds, and national separate arrangement of energy consumption, endeavoring to promote the continued recovery of the economy.（ZhongXin）