MKsport Yangzhou, East China's Jiangsu Province on October 9, 2024. In recent years, Jiangdu has ramped up efforts in promoting high-end manufacturing with new technologies to facilitate the cultivation of new quality productive forces in the region. Photo: VCG" src="https://www.globaltimes.cn/Portals/0/attachment/2024/2024-10-09/98ee8075-6fb8-424a-956e-0c0f895e2f8d.jpeg" />

A worker inspects the operation of robotic arms in a factory in Jiangdu district, Yangzhou, East China's Jiangsu Province on October 9, 2024. In recent years, Jiangdu has ramped up efforts in promoting high-end manufacturing with new technologies to facilitate the cultivation of new quality productive forces in the region. Photo: VCG

Multiple Chinese localities have intensively announced new projects across a wide range of sectors, especially those related to new quality productive forces, in a bid to seize opportunities to nurture new economic growth drivers.

On Wednesday, Guangzhou, capital of South China's Guangdong Province announced 905 key projects with a total investment of 365.7 billion yuan ($50.54 billion), according to a circular issued by the Guangzhou Municipal Development and Reform Commission.

Many of the projects involve new types of infrastructure, strategic emerging industries and advanced manufacturing industries and the intelligent and new-energy vehicles industry.

Officials from Northeast China's Liaoning Province announced the simultaneous launch of 1,359 projects, with a total investment worth more than 350 billion yuan, of which 110 billion yuan will be invested within 2025.

Among the new projects launched in Liaoning, there are 486 industry projects, 202 services projects, 161 energy projects and 178 projects in the digital economy, environmental protection and social care, according to the local government website.

Since the beginning of this year, North China's Tianjin Municipality has seized the opportunity to roll out incremental policies to boost the quality of key projects, with industry projects including tech innovation, advanced manufacturing and modern services accounting for 44.42 percent of the city's annual investment plan, domestic newspaper Economic Daily reported on Sunday.

"The development of new quality productive forces has become one of the new engines of stable economic growth, and thus many localities have stepped up investment in this sector," Li Changan, a professor at the Academy of China Open Economy Studies at the University of International Business and Economics, told the Global Times on Wednesday.

These projects would generate a significant multiplier effect, effectively bolster economic growth and foster the growth of related industries. In this critical period of economic transformation and upgrading, major projects often focus on emerging industries, and will play a vital role in promoting high-quality development and facilitating economic transformation, he said.

In the first two months of 2025, China's fixed-asset investment reached 5.26 trillion yuan, increasing 4.1 percent from a year earlier. The growth rate was also 0.9 percentage points higher than the full-year rate in 2024, according to data released by the National Bureau of Statistics on Monday.

This year's Government Work Report stressed that the country will put ultra-long special treasury bonds to good use, increase ultra-long-term loans and other types of financing support, and strengthen top-down organization and coordination to ensure greater support for the implementation of major national strategies and security capacity building in key areas.

To translate these projects into actual productivity, the progress of construction will be accelerated to ensure the projects' earlier operation, Li said, adding that in the first quarter, these major engineering projects will increasingly incorporate new technologies, industries and scenarios to support the country's consumption growth.