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What does the total investment of technical transformation projects include?
construction investment, loan interest during construction period, working capital, etc.

1. construction investment: construction investment refers to the investment used to purchase fixed assets, intangible assets and deferred assets. Fixed assets include land, buildings, equipment, machinery and other assets used for production and operation. Intangible assets include intangible economic resources such as patents, trademarks and copyrights. Deferred assets include long-term deferred expenses.

2. loan interest during the construction period: during the construction period of the technical transformation project, it is necessary to borrow money from banks, financial institutions or other institutions to pay for the funds needed for the project construction. The loan interest during the construction period refers to the loan interest expenses that need to be paid during the construction period.

3. Liquidity for laying the foundation: Liquidity for laying the foundation refers to the liquidity that needs to be included in the total investment of the technical transformation project according to regulations in order to ensure the normal production and business activities of the project. The calculation of working capital is based on the project scale and operational requirements, and is determined according to a certain proportion (such as 3%) of the total project investment.