Shenzhen will begin the construction of three new Metro lines in the second quarter (Q2) of this year, as announced during a ceremony held on May 8.

The ceremony marked the commencement of 236 projects with a combined investment of 176.65 billion yuan (US$24.87 billion). The planned investment for 2024 stands at around 33.67 billion yuan.

The three new Metro lines include Phase 1 of Metro Line 19, spanning 12.5 kilometers in Pingshan District; Phase 1 of Metro Line 25, stretching 16.2 kilometers across Longhua, Longgang, and Bao’an districts; and Phase 1 of Metro Line 32, covering 9.53 kilometers in Dapeng New Area.

Among the projects scheduled to begin construction in Q2 are 116 government-funded projects with a total investment of approximately 57.53 billion yuan. The planned investment for this year amounts to 10 billion yuan, constituting 30.6% of the total annual planned investment for all projects. Additionally, there are 120 private investment projects with an investment of about 119 billion yuan.

The industrial sector is a key focus for investment. Among the new projects, there are 51 industrial sector projects with a total investment of 67 billion yuan. These projects are focused on strategic emerging industries and future industries such as electronic information, new energy vehicles, biomedicine, energy storage, and the low-altitude economy.

Among the initiatives, the Baiwangxin Industrial Park stands out as one of the key “floored factory house” projects designed to support the city’s industrial development. Situated in Xili Subdistrict, the project entails a total investment of 20 billion yuan and aims to provide vertical factory houses, research buildings, and residential accommodations.