Refile: China signs $45.5 bln in investments for megacity projects

Inspur Digital Enterprise Technology

20/11/2015 08:33

(Corrects spelling of 'megacity' in headline) 
    SHANGHAI, Nov 20 (Reuters) - China on Friday earmarked 290 
billion yuan ($45.45 billion) for manufacturing and industrial 
park projects to support its efforts to integrate Beijing, 
Tianjin and Hebei province into a megacity, state media 
reported. 
    The government hopes to ease pressures on its crowded 
capital by transferring industries further out into the 
integrated metropolis, which it says has a combined population 
of about 110 million people. It dubbed the area "Jing-Jin-Ji" 
last year, using shortened versions of the names of the cities 
and province. 
    Companies that signed agreements with the three local 
governments and the Ministry of Industry and Information 
Technology for the 51 projects include Chinese server maker 
Inspur and carmaker Beiqi Foton Motor  600166.SS , the official 
China National Radio reported on its website. 
    At present, over 80 industrial projects worth more than 120 
billion yuan are already being transferred from Beijing to 
Hebei, the state-run radio broadcaster said. 
    ($1 = 6.3802 Chinese yuan) 
 
 (Reporting by Brenda Goh; Editing by Shri Navaratnam) 
 ((brenda.goh@thomsonreuters.com; +86)(0)(21 6104 1763; Reuters 
Messaging: brenda.goh.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA INFRASTRUCTURE/