As of Nov 15, Nanning, capital city of Guangxi Zhuang autonomous region, has welcomed 30 projects invested in by State-owned companies this year, with an overall investment volume of 193.98 billion yuan ($29.63 billion).

These projects have covered various areas spanning new energy, electronic information, infrastructure construction, finance, logistics, headquarters economy, and cultural tourism. 

The Nanning State-owned assets supervision and administration commission has set its annual target for 2020 to sign five projects with State-owned companies with their single investment exceeding 500 million yuan. Currently, the number of projects invested in by State-owned companies with over 500 million yuan in investment has reached seven.

A total of 11 projects are now under negotiation with State-owned companies, with their overall investment reaching 47.81 billion yuan. 

Song Rizheng, director of the Nanning State-owned assets supervision and administration commission, noted that the commission will push forward the settling down of these projects, as well as provide solid support for Nanning's high-quality economic and social development.