Shenzhen has made significant strides in advancing major construction projects, with a total investment of 179 billion yuan (US$24.67 billion) in the first half of this year, reaching 59.9% of its annual investment target.

One of the standout projects is Shenzhen Xinhua Hospital, located on the western side of Hongshan Station on Metro Line 4 in Minzhi Subdistrict, Longhua District. Designed with a striking aircraft carrier-like architecture, the hospital is set to begin trial operations in December.

An artist’s impression of Shenzhen Xinhua Hospital.

As a regional medical center, Shenzhen Xinhua Hospital will integrate medical services, education, and research, establishing itself as a leading healthcare facility in the Guangdong-Hong Kong-Macao Greater Bay Area. This project highlights Shenzhen’s commitment to leveraging major construction initiatives to stimulate economic growth.

These efforts were showcased during the 2024 Shenzhen Major Projects Investment and Financing Exchange and Matchmaking Conference, which featured more than 200 major projects with a combined investment of approximately 1.7 trillion yuan. The event, hosted by the city’s development and reform commission, gathered over 50 enterprises and 22 financial institutions, including the Shenzhen branch of the People’s Bank of China.

Shenzhen has planned a total of 859 major projects for the year, with a total investment nearing 3.6 trillion yuan. Of these, 703 projects, primarily focused on modern industries, infrastructure, and livelihood improvements, are expected to require an investment of 298.57 billion yuan in 2024.

According to officials, these projects are crucial in driving investment and economic growth. Mo Peng, deputy director-general of the city’s development and reform commission, emphasized the importance of the 179 billion yuan investment in infrastructure, modern industries, and livelihood enhancements during the first half of the year.

“These projects play a crucial role in fostering synergies among related industries, cultivating industrial clusters, and driving economic expansion,” Mo Peng stated.

Statistics indicate that Shenzhen’s overall fixed-asset investment increased by 8.9% year-on-year, reaching 454.3 billion yuan in the first half of the year. Notably, investment in the manufacturing sector surged by 55.5% compared to the previous year.