An event to launch a total of 92 major events was held in Xiamen on Jan 8, with the total investment reaching 127.2 billion yuan ($18.97 billion). The event had 16 sub-venues, which are located in different districts in Xiamen.

With the hope of laying a solid foundation for the whole year's development, Xiamen launched the first batch of grand and high-quality projects to keep the economy running steadily.

Covering a wide range of fields, including infrastructure and social undertakings, the projects boast large scale and high quality. Among them, there are 22 infrastructure projects and 29 projects related to social undertakings, with investments reaching 62.9 billion yuan and 38.7 billion yuan, respectively.

As the main venue of the projects, China Resources (Holdings) Company Limited, or CRC, plans to invest 1.21 billion yuan into the construction of a beer factory, which is expected to produce 400,000 cubic meters of beers annually. Covering a total land area of 147,500 square meters, and a total construction area of 81,000 square meters, the factory is estimated to achieve an output value of about 2.4 billion yuan every year.

Since the beginning of 2022, Xiamen has been trying to promote investment in economic development. In 2022, a total of 470 key projects were completed, which remarkably spurred economic growth.