Zhuhai's first policy infrastructure fund, worth 143 million yuan ($21 million), was issued on Sept 7 under the guidance of the Guangzhou branch of the People's Bank of China (PBC).

The fund will provide strong financial support for the construction of Zhuhai Jinxin Intelligent Manufacturing Industrial Park in Jinwan District. 

A supporting project of the Zhuhai Liangang Industrial Area, the park will build 250,000 sqm (62 acre) in modern industrial factories, 2,000 m (2,187 yd) in a water supply pipe network, and 4,422 m (4,836 yd) in roads, with total investment of 1.44 billion yuan ($206.79 billion).

Rendering of Zhuhai Jinxin Intelligent Manufacturing Industrial Park [Photo courtesy WeChat account: zhjwjrxh]

It is also a new practice carried out by Zhuhai to upgrade the city's old industrial parks and revitalize idle land lots. Upon operation, it will be of vital importance to the cultivation and development of a local 100-billion-yuan ($14-billion-yuan) level new energy industrial cluster focusing on power batteries, energy storage battery boxes, as well as photovoltaic equipment.

The PBC has given support to China Development Bank and Agricultural Development Bank of China to set up financial tools to offer 300 billion yuan ($43 billion) in additional loans on the basis of the first batch of 300 billion yuan loans for new-type infrastructure construction projects.

Officials of PBC's Zhuhai branch said that they will further promote the precise matchmaking between major projects and policy banks to introduce more policy financial tools in Zhuhai.