Under the impact of the outbreak of the new coronary pneumonia and the downward pressure of the economy, provinces have recently launched intensive large investment plans. Not only that, but calls for a big new round of infrastructure are growing.
7 provinces roll out key projects worth 25 trillion yuan
Guo jinhua, director of the fixed assets investment department of the yunnan development and reform commission, said at a press conference on February 23 that 525 key projects with a total investment of about 5 trillion yuan will be launched in yunnan in 2020, and more than 440 billion yuan will be invested in 2020.
Yunnan is not the only province that has issued investment plans during the critical phase of the outbreak. Since construction resumed after the Spring Festival, several provinces have released investment plans for key projects in 2020.
On February 20, henan province announced 980 key construction projects for 2020, with a total investment of 3.3 trillion yuan and plans to complete 837 billion yuan in 2020, covering six areas: industrial transformation and development, innovation-driven development, infrastructure, new urbanization, ecological and environmental protection, people's livelihood and social programs.
On February 25, the fujian provincial development and reform commission issued a notice on printing and distributing the list of key provincial projects in 2020, identifying 1,567 key projects in fujian with a total investment of 3.84 trillion yuan. Of these, 1,257 projects are under construction, with a total investment of 2.97 trillion yuan, or 50.5 billion yuan. 310 preparatory projects with an investment of 0.87 trillion yuan.
Ahead of the Spring Festival, sichuan, chongqing, shaanxi and hebei provinces have released investment plans for key projects this year. In 2020, sichuan will have 700 key projects, with a total planned investment of 4.4 trillion yuan and an annual investment of over 600 billion yuan. Chongqing has 1,136 major projects, with a total investment of 2.6 trillion yuan, and an annual investment of 347.6 billion yuan. There are 600 key projects in shaanxi, with a total investment of 3.38 trillion yuan and an annual investment of 501.4 billion yuan. Hebei has 536 key projects with a total investment of 1.88 trillion yuan and an annual investment of 240.2 billion yuan.
According to the investment plans for key projects announced by the seven provinces, the total investment is close to 25 trillion yuan, and the total investment for 2020 is close to 3.5 trillion yuan. In addition, other provinces published lists of key projects, but did not disclose the total amount of investment, and some provinces did not provide detailed figures.
For example, the person in charge of zhejiang provincial development and reform commission told the media that in order to further promote the implementation of the Yangtze river delta integrated development strategy and support the implementation of major landmark projects, zhejiang will focus on promoting the construction of more than 200 major projects in the future, with a total investment of more than 2 trillion yuan, and plan to invest about 300 billion yuan in 2020.
Yi xiaoguang, President of chongqing comprehensive economic research institute, told China business news that investment-led economic growth is a feature of China's economy. These investments were not made in response to the outbreak, but in the context of the annual plan. Of course, in response to the impact of the epidemic, local governments will certainly pay more attention to the construction of some public infrastructure.
As a matter of fact, stable investment has been highlighted as an important policy tool at various local meetings to coordinate epidemic prevention and control and economic and social development. From the resumption of key projects to the allocation of various elements, as well as policy measures to deal with the outbreak, strong and steady investment has been made everywhere.
On February 28, sichuan provincial party committee held a meeting of the standing committee and the sixth meeting of the provincial party committee's working leading group on the new coronavirus pneumonia epidemic, calling for focus. The troika ” We will work hard to ensure that investment plays a key role, and seize the policy window to expand government investment and boost nongovernmental investment.
expert recommendations New infrastructure & throughout;
At present, the idea of expanding the scale of infrastructure and stabilizing investment to drive economic growth is again attracting attention.
For example, ren zeping, President of the Evergrande economic research institute, recently suggested a new round of infrastructure construction. Ren zeping believes that the simplest and most effective way to hedge against the epidemic and economic downturn is infrastructure, launched. New infrastructure & throughout; , will help stabilize growth and employment, unleash China's economic growth potential and enhance its long-term competitiveness.
Before the outbreak, China responded to the Asian financial crisis in 1997, the SARS epidemic in 2003 and the international financial crisis in 2008 by massively expanding infrastructure construction.
Wang xiaogang, deputy head of the macro group of the sichuan decision-making advisory committee, told China business news that this is a special measure under special circumstances and can help the economy recover as soon as possible.
The meeting of the political bureau of the CPC central committee also pointed out that a proactive fiscal policy should be more proactive and give full play to the role of policy-based finance. A prudent monetary policy should be more flexible and appropriate to ease the difficulty and high cost of financing. The meeting stressed the need to actively expand effective demand, promote the recovery of consumption and release of potential, give full play to the key role of effective investment, step up the construction of new investment projects and accelerate the progress of projects under construction.
& other; The epidemic has exposed some weaknesses in social governance, public health facilities, emergency response capacity building and material reserve system. Weakness is the next step investment growth potential, is the development space. We will strengthen areas of weakness and strengthen areas of strength with greater intensity and precision to improve the quality and efficiency of economic development. Throughout the &; Cong liang, secretary-general of the national development and reform commission, said at a press conference of the joint defense and control mechanism of the state council on February 24.
At the 15th press conference on the prevention and control of xinguan pneumonia in yunnan province, yunnan province released the infrastructure. Double tenth & throughout; Major projects, with a total investment of about 3.6 trillion yuan, mainly focus on infrastructure, including railway, highway, cross-border power grid and smart grid, 5G network full coverage, and ten major projects of multi-modal transport logistics network.
However, ren zeping believes that start; New & throughout; A round of infrastructure, the key in the ldquo; New & throughout; We need to promote a new round of infrastructure construction through reform and innovation, rather than simply retracing the old path. For example, investment should be adjusted and new infrastructure such as 5G, artificial intelligence, industrial Internet, smart city, education and medical treatment should be vigorously developed on the basis of traditional infrastructure such as railway, highway and rail transit.
Yi xiaoguang also believes that investment is the key to steady growth, but the investment structure determines the future supply structure, is an important aspect of the structure can be optimized. The current stage of investment pull and previous investment labor is different, the key lies in how to expand effective investment.
Therefore, he believes, the expansion of investment should focus on making up for the weaknesses of the Chinese economy, the most important one is to promote high-quality economic development. And we determine the direction of development needs to promote the development of infrastructure can be appropriately ahead of the construction, so as to shape the new economic development of the hardware environment, leading economic growth.
