China’s National Development and Reform Commission — a state economic planning agency with significant control over setting the direction of future Chinese economic growth — just released a list of over 1,000 projects requiring $317.75 billion in new public and private investment to move forward. The list of projects almost reads like a massive New Deal program for China, as it’s chock full of massive infrastructure projects — including highways, rail lines, subways and tunnels.
But that’s not all. There are also new municipal facilities, new water conservation projects, new parks and wetland preserves, new hospitals, and even a poultry and livestock trading building in Tibet. There are literally projects covering the entire breadth and width of China. Reading through the list of projects, you can almost feel the country straining against its borders and natural resource limits as it seeks to accommodate its swelling population.
As a result, China’s new PPP (public-private partnership) inventory provides a fascinating snapshot at the nation’s future innovation priorities.
Managing the growth of China’s newest mega-cities
There are plenty of massive infrastructure builds listed in the inventory of 1,043 projects, but none bigger than the $8.29 billion required to build out the Hangzhou Metro in Zhejiang Province. The Hangzhou Metro opened with one line in November 2012 and is now in the planning stages for several more lines. That comes as Hangzhou itself is ballooning in size, now one of China’s 15 mega-cities with a population of more than 10 million.
In the United States, how many cities are in the midst of a massive subway build-out, other than maybe New York City, with its $4.45 billion Second Avenue subway project? By way of comparison, the new investment required for the Hangzhou subway project is nearly twice the projected cost of the New York City project. And it’s not just Hangzhou – there are three new subway investment projects in Beijing, each requiring more than $7 billion.
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