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Guangxi to accelerate infrastructure construction in 2009

By Yang Zhen (chinadaily.com.cn)
Updated: 2009-01-12 16:56

Guangxi Zhuang autonomous region said its fixed asset investment in 2009 is projected to reach 465 billion yuan ($67.88 billion), up 25 percent from that of 2008.

At the ongoing the autonomous region’s People's Congress, Guangxi Governor Ma Biao said Guangxi plans to start building a number of major projects in 2009 including new railways, highways, ports and power plants, including a nuclear power plant in Fangchenggang. Many of those projects will start this year, much earlier than initially planned, as part of Guangxi's efforts to cope with the impact brought by a slowing global economy. 

Guangxi targets 11 percent economic growth and will try to keep urban unemployment rate lower than 4.5 percent in 2009. Guangxi's GDP in 2008 rose to 715 billion yuan, a 12.5 percent increase from the previous year.

The local government's fiscal revenue also grew 19.8 percent to 84.3 billion yuan in 2008 and is projected to increase by 11 percent to 93.6 billion yuan in 2009, Ma said at the opening ceremony of the meeting.

Guangxi People's Congress, a meeting of deputies from all over the province, started on Jan 10 and will finish on Jan 14.