The 19th China Lanzhou Investment & Trade Fair has achieved the highest rates of projects launched anddisbursement in its history.

A total of 137 projects worth 115.8 billion yuan (US$18.5 billion) were signed at the fair last year, 118 of which have been launched as of May 25, 2014, a record high rate of 86.13 percent. The projects’ fund reached 50.03 billion yuan, a rate of 43.21 percent. Fourteen projects have been completed, with the fund totaling 5.09 billion yuan.

Officials in Lanzhou required that all the projects signed at the 19th fair be launched before the opening of the 20th fair, which is scheduled to open this July. The fund does not quite meet the target and 19 projects are still not open.

The government project office examined the yet-to-be-launched projects at the end of May to identify the problems, which mainly lie in the change of investment intention within the companies, undecided project locations, the slow progress of demolition at the planned project locations, the slow progress of project approval and the unmet requirements needed for construction of project infrastructure.

The Lanzhou City Bureau of Economic Cooperation has coordinated with the Lanzhou Administration Service Center to carry out a one-stop service to address the slow progress of project approval.

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