Yuhang district, Hangzhou will invest more than 200 billion yuan ($29.16 billion) into government fixed assets, according to an announcement made at a news conference on Jan 18. [Photo/ zj.zjol.com.cn]

Yuhang district, Hangzhou will invest more than 200 billion yuan ($29.16 billion) into government fixed assets, said Tian Meiyong, deputy director of the district's development and reform bureau, at a news conference on Jan 18.

According to Tian's report, Yuhang invested nearly 128 billion yuan in fixed assets in 2019, a year-on-year increase of 7.4 percent.

Tian said that the large investment helped Yuhang achieve more sustainable development and enhanced connections between the district and Shanghai, thus helping the district get more involved in the integration of the Yangtze River Delta region

According to the government's plan, which was revealed at the conference, investment will be used to increase affordable housing for residents and improve infrastructure for education, medicine, culture, sports, and transportation.

In 2020, Yuhang plans to spend 14.2 billion yuan on 88 affordable housing projects, which have drawn in a total of 70.7 billion yuan in investment.

The district also plans to spend 8.77 billion yuan this year on 117 projects costing a total of 38.3 billion yuan. These projects involve education, medical care, sports, and the preservation of the Liangzhu archaeological site.

By implementing these projects, we hope to improve Yuhang's public service infrastructure to meet residents' increasing demand for high-quality public services, Tian said.

In addition, Yuhang plans to accelerate the construction of a modern transportation network by implementing 226 transportation projects this year, which will receive 68.1 billion yuan in total investment.

Yuhang district plans to invest more into the improvement of its transportation network as part of its 2020 budget plan. [Photo/Yuhang Morning Post]