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Xinhua Silk Road
Industry

China to hail new round of infrastructure construction spree

May 23, 2019


Abstract : China is likely to embrace another round of infrastructure construction tide after many Chinese localities unveiled their lists of new key construction projects, reported Shanghai Securities News.

BEIJING, May 23 (Xinhua) -- China is likely to embrace another round of infrastructure construction tide after many Chinese localities unveiled their lists of new key construction projects, reported Shanghai Securities News.

In recent weeks, Chinese provinces including Hunan, Qinghai, and Zhejiang have unveiled lists for a new batch of key construction projects and programs publicized on lists released by these Chinese localities are mainly infrastructure projects related to transportation and energy sectors.

Since early May, other Chinese provinces and municipalities such as Hainan, Jiangxi, and Chongqing have already kicked off construction of a batch of key projects.

The following is a table of brief introduction about their planned programs or projects of which construction has commenced:

ProvinceProjects OverviewInfrastructure-related Investment
Hunan

148 projects involving a total investment of 1.68 trillion yuan into key areas including infrastructure;

196 provincial-level key projects involving investment of 975.89 billion yuan
More than 50 percent of investment at 893.5 billion yuan is planned for 83 infrastructure projects
Qinghai190 programs for water conservancy, transportation, energy, information, urban infrastructure, industrial optimization and upgrading, ecological construction and improvement of people’s livelihood, involving investment totaling 648.1 billion yuan, with 115.05 billion yuan planned for 2019

42 comprehensive transportation infrastructure projects, with annual planned investment at 32.17 billion yuan;

24 energy infrastructure projects, with annual planned investment at 31.43 billion yuan;

7 information infrastructure projects, with annual planned investment at 3.64 billion yuan;

      17 urban infrastructure programs, with annual planned investment at 8.65 billion yuan
Zhejiang

810 programs mulled for provincial-level construction, with gross planned investment at 2.6245 trillion yuan and 390 billion yuan of investment planned for 2019;

237 projects are newly added ones, involving investment of 666.5 billion yuan, of which 104.4 billion yuan are planned for 2019
237 projects for railways construction, involving 1.1251 trillion yuan of investment, of which annual planned investment is 177.2 billion yuan
Hainan
On May 18, construction of 80 projects involving investment of 25.6 billion yuan started32 infrastructure projects involving aggregate investment of 2.9 billion yuan

For a long time, infrastructure investment has been one of the main engines driving up entire investment growth.

During January and April, however, infrastructure investment grew 4.4 percent year on year, basically paralleling the growth of the first quarter and seemingly lower than market expectations.

Liu Xuezhi, senior researcher of financial research center of the Bank of Communications held that the relatively tepid infrastructure investment increase mainly resulted from the huge base data on infrastructure investment, which cast weakening marginal impact on pulling up infrastructure investment growth.

Li Chao, chief macroeconomics analyst with Huatai Securities, said China’s infrastructure investment tended to diversify in structure and railway investment turned out robust, up 12.3 percent year on year during the first four months of this year.

Alongside the releasing and construction of reserve projects, infrastructure investment may stabilize and rise in the second and third quarter of this year on basis of the relatively low base data in comparable periods of 2018, reckoned Li. (Edited by Duan Jing, duanjing@xinhua.org)

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