From January to September, industrial fixed asset investment in Harbin, the capital city of China’s northernmost Heilongjiang province, continued to grow at a high rate, up 14.5 percent year-on-year. This investment increase was 11.2 percentage points higher than province’s industrial fixed asset investment growth rate, according to information from Harbin’s industry and information technology bureau.

It exceeded Harbin’s investment target for the first nine months, helping the city secure the third-place ranking among the country’s sub-provincial cities.

This year, Harbin plans to construct 175 key industrial projects, each with an investment of more than 50 million yuan ($7.46 million). The planned investment total for 2020 is 15.25 billion yuan.

At the end of September, 170 projects had started or resumed construction, with a construction resumption rate of 97.1 percent – 2.6 percentage points higher than the same period last year. 

In the first nine months of this year, investments in the "four traditional" industries – equipment manufacturing, food, pharmaceuticals and petrochemicals – accounted for 44.6 percent of the city's total industrial investment.

The equipment manufacturing industry accounted for 16.4 percent of the city’s total industrial investment, a year-on-year increase of 4.7 percent. In comparison, investments in the food industry accounted for 15.8 percent, a year-on-year decrease of 3.5 percent.

The pharmaceutical industry’s investment total accounted for 4.0 percent of Harbin’s industrial investment, a year-on-year decrease of 42.1 percent. Meanwhile, investments in the petrochemical industry accounted for 8.3 percent of the total industrial investment, a year-on-year decline of 21.2 percent. 

Also, the investment total in the consumer goods industry accounted for 6.5 percent of the city's total industrial investment, a year-on-year increase of 169.2 percent.