Tonglu wins provincial recognition for fast investment growth

A rendering of a building under construction in Tonglu county, Hangzhou, East China's Zhejiang province. [Photo provided to chinadaily.com.cn]

Tonglu county was ranked high in a provincial assessment for investment growth and optimization as well as progression of major projects in Zhejiang in the first quarter of this year.

In September 2021, Zhejiang launched a mechanism to incentivize cities under its jurisdictions to attract investment and facilitate the development of major projects.

Evaluations have been carried out on 11 prefecture-level cities and 90 counties (county-level cities and districts) in the province on a quarterly basis, with the top four cities and 11 counties (county-level cities and districts) with higher scores granted rewards by the provincial government.

Tonglu is the only county in Hangzhou to be recognized in the first quarter assessment. This achievement will see the county awarded with 5 million yuan ($769,230) and an extra 100-mu (6.67 hectares) land use quota, according to related regulations.

Over the past three months, Tonglu's investment soared by 48.2 percent year-on-year. Robust growth was seen in manufacturing and high-tech sectors, indicating an optimized investment structure in the county.

In addition, the number of investment projects completed during this period was 48 percent higher than the target set by the local government.