Tonglu, Hangzhou Wins Zhejiang Provincial "Horse Race" Incentive

Recently, Zhejiang Province in China announced the list of Investment "Horse Race" Incentive Winners for the first quarter of 2022. As the only winning county in Hangzhou City, Tonglu County will be granted about 6.7 hectares of construction land quotas and CNY 5 million investment fund from the central government budget as a reward.

Relocation Project of the First People's Hospital of Tonglu County

Rendering of the Intelligent Security Check Product Industrialization Base in Tonglu County

The "Horse Race" Incentive Mechanism was an innovative measure launched by Zhejiang Province to boost and support good projects, promote effective investment, and enhance the momentum of high-quality development. According to the mechanism, since the third quarter of 2021, 11 prefecture-level cities with subordinate districts and 90 counties (cities and districts) in the province have been assessed quarterly from 11 indicators in three fields of the investment growth, the optimization of investment structure, and the attraction and implementation of major projects, to choose four prefecture-level cities with subordinate districts and 11 counties (cities and districts) as the "Horse Race" Incentive winners.

Since the beginning of this year, Tonglu County has been prioritizing investment stabilization to concentrate on eliminating obstacles to investment projects and expanding effective investment.

In the first quarter of 2022, Tonglu County witnessed an investment growth of 48.2 percent, with significantly optimized investment structure. Specifically, manufacturing, high-tech industries and private investment rose by 52.4 percent, 80.1 percent, and 54.9 percent respectively. Furthermore, the investment in ecological and environmental protection, urban renewal, and water conservancy facilities went up by 48.7 percent, while transportation investment grew by 47.3 percent. Thirty-four leaders of Tonglu County served as the liaisons with 68 key projects, with 148 percent of the investment plan for city-level key projects completed in the first quarter.