SHENZHEN kicked off a total of 113 projects that will start construction in the second quarter of the year at a ceremony Monday.

The projects involve a total investment of 123.2 billion yuan (US$17.86 billion). In 2019, a total of 20.1 billion yuan will be spent on the projects, which cover 10 districts and new areas.

The projects include 73 facilities, such as the reconstruction of Dameisha Beach Park, and construction of the International Department of Shenzhen Foreign Languages School in Longgang, apartment buildings for talents in Shenzhen Hi-Tech Industrial Park, as well as nine industrial projects and 31 urban rejuvenation projects.

Among the projects, 31 are in Longgang District, which is followed by Longhua with 19 and Nanshan with 18.

Regarding investment, 40.5 billion yuan will be spent in Bao’an District and 29.1 billion yuan will be spent in Longgang District.

The government is funding 71 of the projects, while 42 projects are funded by private investment.

According to Nie Xinping, director of the Shenzhen Municipal Development and Reform Commission, Shenzhen had completed 162.6 billion yuan in investment in fixed assets in the first four months. The investment in infrastructure increased by 61.2 percent between January and April compared to the same period last year. The city completed 29.7 percent of its annual investment plan in the first four months of the year. (Han Ximin)