Guangzhou held a groundbreaking and signing ceremony for its major first-quarter projects on Jan 29. Over 460 project contracts were signed or have since begun construction, with a total investment of more than 680 billion yuan ($101 billion).

Two major projects in Haizhu district are making great progress. The Zhongying Square project, which is located in the core area of Pazhou Artificial Intelligence and Digital Economy Pilot Zone, recently started construction and has a total investment of about 400 million yuan.

The project's construction period is estimated to last from 2023 to 2027, and it aims to develop into a large commercial complex of high-end offices, commercial entertainment buildings and public facilities. This will help to build Haizhu into an international consumption center.

In addition, Vipshop has signed a contract to build its international innovation center (tentative name) in the Pazhou area, with an investment of 1.8 billion yuan. The project is planned to cover an area of about 11,600 square meters.

The center is expected to become Vipshop's second headquarters in China, which will mainly be used as a fashion brand incubator, a financial center, as well as a settlement center.

Guangzhou holds a groundbreaking and signing ceremony for its major first-quarter projects. [Photo/WeChat account: gzhzfb]