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Major Project Construction Surges in Spring as 'Productive Investment' Continues to Expand

2024-03-29 913 0人评论
　　In early January, construction began on the Hefei-Wuhan section of the Shanghai-Chongqing-Chengdu High-Speed Railway. Various localities in Hubei Province declared 126 new transportation projects to start in the first quarter, with a total investment of 73.96 billion yuan; Henan has successively started a batch of water conservancy facility construction projects, and has so far concentrated on starting 196 key water conservancy projects in two batches, with a total investment of 70 billion yuan... Investment is one of the "three drivers" pulling economic growth. Data from the National Bureau of Statistics show that in January-February this year, fixed asset investment (excluding rural households) nationwide reached 5,084.7 billion yuan, a year-on-year increase of 4.2%, with the growth rate 1.2 percentage points faster than the whole of 2023.
　　Busy construction without failing the spring light. Since the beginning of the year, all regions and departments have continued to drive the expansion of effective investment, and a series of major projects in infrastructure, industrial manufacturing, and livelihood security have been accelerated into implementation, providing important momentum for consolidating the positive trend of economic recovery.
　　The Central Economic Work Conference held at the end of last year proposed: "Expand investment with beneficial returns." At present, all localities and departments regard serving high-quality development as an important focus of expanding effective investment, sustaining the investment growth momentum.


　　The water conveyance line has a total length of 194.7 kilometers, of which the tunnel is about 193.9 kilometers long, making it the largest comprehensive pressurized water conveyance tunnel in China... Since the beginning of the year, the Jianghan Water Diversion Project of the South-to-North Water Diversion Middle Route has been fully started.
　　It is understood that, as a **major project of the follow-up works of the South-to-North Water Diversion, the Jianghan Water Diversion Project is an important landmark project for accelerating the construction of the main framework and major arteries of the national water network, with a static total investment of 55.158 billion yuan and currently about 5,000 construction workers. After the project is completed, it can raise the multi-year average water diversion scale of the South-to-North Water Diversion Middle Route from 9.5 billion cubic meters to 11.51 billion cubic meters.
　　Crossing mountains and ridges, "joining hands" with the Three Gorges and Danjiangkou, water conservancy project construction is advancing with resounding steps.
　　At the construction site on the north bank of the Guanyinsi Yangtze River Bridge in Jiangling County, Hubei Province, after more than 30 hours of hard work, the workers completed the first concrete pouring of the lower crossbeam of the main tower, effectively advancing the overall construction progress and laying a solid foundation for subsequent tower column construction. At present, the main tower of this highway cable-stayed bridge, which has the world's largest span, has reached a height of 60.5 meters.
　　"Investment growth has rebounded, manufacturing investment has grown rapidly, and the driving role of major projects is relatively obvious," said Liu Aihua, spokesperson for the National Bureau of Statistics, chief economist, and director of the Department of Comprehensive Statistics of the National Economy, at a press conference of the State Council Information Office.
　　Data show that in January-February, investment in projects with a planned total investment of 100 million yuan or more increased by 12.1% year on year, with the growth rate 2.8 percentage points faster than the whole of 2023, driving all investment growth by 5.9 percentage points.
　　The new momentum of continuously increasing investment is also creating a "new engine" for economic development.
　　On March 15, State Grid Corporation of China started construction of the Shaanbei-Anhui ±800 kV ultra-high-voltage direct current transmission project and the Yuexi Pumped Storage Power Station. The two projects involve an investment of 28 billion yuan, which can directly drive the coordinated and rapid development of upstream and downstream industrial chains and provide more than 23,000 jobs. It is reported that after the two projects are completed and put into operation, they can improve the capacity for mutual assistance between power surplus and shortage, complementarity across time and space, and exchange among multiple energy sources, realize the optimized allocation of power resources over a larger scope, and better ensure the safe and stable operation of the power grid.
　　With sufficient energy, development is more confident. In January-February this year, investment in key areas of new energy industries such as solar power generation and wind power generation maintained rapid growth, increasing by 46.4% and 17.7% year on year respectively.
　　At the same time, the national integrated computing network is being accelerated, the power "expressway" provides support, and the clustering effect of the integration of data elements, intelligent technologies, and digital industries is taking shape, making the "digital highway" wider and smoother.
　　With 15,000 racks installed and operating, a computing power scale of 5,300P has been formed, and the absorption of intelligent computing power has reached 100%... On March 14, the computing power scale of the Qingyang Data Center Cluster at the Gansu hub node of the national integrated computing network exceeded 5,000P, reaching 5,300P, with computing capacity greatly improved.
　　It is reported that the Gansu hub has established the Qingyang Data Center Cluster to focus on serving the computing power needs of the Beijing-Tianjin-Hebei region, the Yangtze River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area, and other regions, and to build a computing power guarantee base facing the whole country. Data show that 16 major industrial projects have been implemented in the Qingyang "East Data, West Computing" industrial park, with a total investment of 19.8 billion yuan.
　　At present, local government special bonds and ultra-long-term special government bonds are among the most direct and effective policy tools for driving investment.
　　This year's Government Work Report proposed, "It is proposed to arrange 3.9 trillion yuan of local government special bonds" and "starting this year, it is proposed to issue ultra-long-term special government bonds for several consecutive years, specifically for the implementation of major national strategies and the building of security capacity in key areas, with 1 trillion yuan to be issued first this year."
　　Luo Zhiheng, dean of the Yuekai Securities Research Institute and executive director of the Chinese Tax Institute, analyzed that the 1 trillion yuan of government bond funds additionally issued in the fourth quarter of last year has been fully allocated across three batches of projects, and more than 80% of the fund budget had been issued within 2023, providing funding support for infrastructure investment at the beginning of this year.
　　"In the next stage, as the trillion yuan of government bonds additionally issued in the fourth quarter of 2023 gradually translates into physical work volume, policies to strengthen financing support and factor guarantees for private investment projects are implemented, and investment in key areas is increased, this will play a supporting role in the steady growth of investment." Liu Aihua said that on the whole, in the future, as various policies to expand effective investment continue to take effect and major projects are accelerated, investment is expected to continue to maintain steady growth.
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