(Yicai Global) March 4 -- Nearly half of China's administrative regions, including Hebei province, Beijing, and Shanghai, have revealed almost 7,500 key investment projects starting this year to spur economic development in the country that has been shaken up by the Covid-19 outbreak.

In nine regions out of the 14, the scale of planned investment has amounted to CNY23.1 trillion (USD3.3 trillion) by yesterday, the 21st Century Business Herald reported.

"More investments will be carried out this year," Liu Xuezhi, senior researcher at the Bank of Communications Financial Research Center, told the same news source. There is still much room for growth in infrastructure construction, particularly in western and Central China and rural regions, as that kind of investment stimulates the economy effectively, Liu added.

Some of the development is directly related to the Covid-19 epidemic. Eastern Jiangsu province's 10 projects with an annual investment of CNY95.8 billion include an expansion of the Second Hospital of Nanjing, an infectious disease hospital. Shanghai has announced two health-related infrastructure projects. Northwestern Gansu province has come up with almost 100 healthcare ideas, involving emergency response, storage, and cold chain logistics.

"Although the domestic Covid-19 situation is basically under control, boosting consumer demand is tough," said Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges. Focusing on integrating urban and rural areas, environmental protection, and public services is in line with the modern trends, Zhang added.

The southwestern city of Chongqing will kick off more than 920 projects, intending to spend CNY340 billion (USD49 billion) this year out of the total tally of CNY2.7 trillion. Most of the projects involve infrastructure for transportation, utilities, and water conservancy.

Yunnan province plans to invest CNY5 trillion in nearly 530 projects, some CNY440 billion of which will be expended this year. Central Henan province will put CNY3.3 trillion into 980 undertakings, one-quarter of which will be consumed over the year.

More provinces are expected to announce similar moves soon. Eastern Anhui and southwestern Guizhou provinces have encouraged their municipalities to submit project plans in the near future.

Editor: Emmi Laine