San'ao Nuclear Power Plant in Cangnan county, Wenzhou, is the first grid-connected nuclear power project in China with minority private capital participation. [Photo provided by CGN Cangnan Nuclear Power Co Ltd]

East China's Zhejiang province has announced 1,678 major projects in its first batch for 2026, with planned annual investment totaling 1.1 trillion yuan (about $159 billion).

The projects reflect three priorities: private investment, industrial development, and technological innovation, forming the core of the province's investment framework for the year.

In terms of scale, the project pipeline is designed to support stable investment growth. In Huzhou, for example, 137 projects have a combined investment exceeding 270 billion yuan, supporting economic activity at the start of the year.

The project mix also reflects broad sector coverage. A large number of projects are concentrated in advanced manufacturing, technology innovation, and public services, including emerging areas such as artificial intelligence, low-altitude economy initiatives in Shaoxing, and commercial space initiatives in Hangzhou.

The investment structure has continued to improve, with both industrial and public service projects increasing their share. The list includes infrastructure projects such as Ningboxi Railway Station, alongside high-end manufacturing projects such as new energy battery production in Jinhua.

Compared with 2025, adjustments have been made to project qualification criteria under the "thousand projects, trillion yuan" program. Requirements have been moderately lowered for mountainous and island counties to encourage project development and direct more resources to these areas, aiming to reduce regional disparities.

The share of infrastructure projects and related investment has declined steadily, while investment in public services has increased year-on-year.

Pan Yigang, deputy director of the Zhejiang Development and Planning Institute, said directing more resources toward people and public services is necessary to improve the quality of life and promote common prosperity.