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Hundreds of projects
Hangzhou will see 549 major construction projects begin this year, totaling 569.6 billion yuan in investment, up 15 percent from last year.
IKEA Hangzhou will open a flagship store in Yuhang District this summer. The furniture and home accessories giant is about 200 meters from Metro Line 1’s Qiaosi Station and cost US$126 million to build.
Of the 569.6 billion yuan fixed-asset investment, 271.5 billion yuan is for real estate projects, up 18 percent from last year. Another 115.6 billion yuan is for public infrastructure, up 15 percent, and 100.5 billion yuan for industrial projects, up 10 percent.
Investment in environmental projects jumped 20 percent this year to 4.8 billion yuan, mainly for West Lake preservation, kitchen waste recycling, and natural gas supply.
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