A commencement ceremony for major projects in the Ningxia Hui autonomous region in 2022 was held in the Suyin Industrial Park on Friday.

The commencement ceremony for major projects in Ningxia. [Photo provided to chinadaily.com.cn]

At the ceremony, 1,076 major projects, with a total investment of 504.2 billion yuan ($79.3 billion), were launched. The annual planned investment of these projects has reached 147.7 billion yuan, including nine projects with a total investment of more than 10 billion yuan and 17 projects of more than 5 billion yuan.

Among these, there are 565 new projects with an annual planned investment reaching 73.5 billion yuan, 591 social investment projects with an annual planned investment of 126 billion yuan, and 589 industrial projects with an annual planned investment of 111.7 billion yuan.

The commencement ceremony for major projects in Ningxia. [Photo provided to chinadaily.com.cn]

Excavators at the ceremony. [Photo provided to chinadaily.com.cn]

Ningxia will strive to achieve its goal of increasing fixed asset investment by 8 percent and promote the construction of major projects to ensure that the rate of the resumption of work reaches more than 70 percent in March and 100 percent in May, while making sure every project is of high-quality and completed in a safe way.

The commencement ceremony for major projects in Ningxia. [Photo provided to chinadaily.com.cn]

Dang Yanbao, president of the Baofeng Energy Group, spoke on behalf of the company at the ceremony, saying that the Baofeng Group will invest 69.2 billion yuan to build the first, and largest, energy storage industry chain project in China. They will also introduce top technical equipment and talents to build an intelligent manufacturing plant for energy storage batteries and will help Ningxia become a national comprehensive demonstration zone for new energy.

Once the project is completed, a clean energy industry cluster will be set up to promote the development of the new energy storage industry in Ningxia and western regions.

Photos by Zuo Mingyuan, Xue Rui and Feng Xiaoyun