East China's Zhejiang province launched the ambitious Trillion-Yuan Projects initiative earlier this year with a focus on advanced manufacturing, technological innovation, transportation infrastructure, and clean energy supply. The initiative aims to promote over 1,000 major provincial projects each year, with annual investment exceeding 1 trillion yuan ($143.92 billion).

The data for the first quarter of 2023 shows promising progress in Hangzhou, the capital city of Zhejiang, under the initiative. The investment completion rate for 98 projects reached 22.7 percent, and out of 21 newly initiated projects, seven have already started, a rate of 33.3 percent and signaling a strong start.

Behind this progress lies a series of measures aimed at expanding investments and promoting development. Hangzhou has set determined targets to achieve its second-quarter investment goals, aiming to exceed 120 billion yuan in investment in the period.

Hangzhou has improved coordination mechanisms and resource allocation to facilitate project progress. Moreover, by fostering collaboration among various departments, the city has accelerated project approvals, ensuring a faster and smoother process.

Officials from Hangzhou's development and reform commission have expressed their commitment to prioritizing project advancement and strengthening resource support.