Editorial
Can infrastructure investment continue to be high in 2023?
Seetao 2022-12-20 11:30
  • In 2022, the amount of infrastructure investment will reach 14.91 trillion yuan, an increase of 11.2% year-on-year
  • Judging from the investment in infrastructure facilities in 2022, the infrastructure investment in the first three quarters continued to increase
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In the past few decades, China's infrastructure construction has been closely related to the urbanization process, and its development is expanding at an extremely alarming rate. However, in recent years, the level of economic prosperity has generally been low, so infrastructure has also become one of the government's important means of "stabilizing growth" and stabilizing China's economic development.

The downward pressure on China's economy in 2020 is still prominent. In the first three quarters, external demand and infrastructure supported the stable development of China's economy. In the fourth quarter, due to the weakening of exports due to the impact of the global economic contraction, the only two major factors currently supporting are Without infrastructure, it can be said to be a heavy burden in economic development. Next year will be a crucial year for the "14th Five-Year Plan". According to past experience, governments in various regions will generally increase investment before the five-year plan. The number of projects has increased significantly, and the infrastructure projects next year will still be at a high level due to the superposition of the two factors.

Judging from the investment in infrastructure facilities in 2022, the investment in infrastructure construction in the first three quarters continued to increase. The amount of investment in infrastructure construction was 14.91 trillion yuan, an increase of 11.2% year-on-year. The three major infrastructure projects are growing rapidly and are the main projects driving infrastructure construction. The growth rates of infrastructure investment reached 14.8%, 12.7%, and 23.2% respectively.

Municipal infrastructure projects have maintained a high level for many years

Judging from the data of the past ten years, the investment in municipal infrastructure projects accounts for 80% of the total investment in water conservancy, environment and public facilities management, and has remained at about 80% all year round. In the market for special bonds, municipal infrastructure projects have received substantially more funds than other fields, which also reflects the proportion of municipal infrastructure projects from the side.

The investment growth rate of water conservancy projects has increased significantly

On March 29, 2022, the State Council held a working conference on strengthening the expansion of effective investment in water conservancy project construction in 2022. In the meeting, it was proposed that another batch of water conservancy projects with mature conditions will be started in 2022, including the follow-up project of the South-to-North Water Diversion Project. At present, the development of China's traditional transportation infrastructure projects has become saturated, but water conservancy infrastructure projects still have a large room for development, so the government is more inclined to make up for shortcomings and invest in the construction of water conservancy projects. According to relevant data, as of October 2022, China's investment in water conservancy construction has reached a record high in the same period, and the number of newly started projects is the largest in the same period in history. 

Focus on the development of infrastructure projects in 2023

Judging from the direction of the 14th Five-Year Plan, new infrastructure projects will be juxtaposed with traditional infrastructure projects in the future, and national construction will pay more attention to the completeness of infrastructure. In terms of old infrastructure, the stock will be renovated and updated, the quality will be improved, and intelligent optimization will be made to make up for the shortcomings of the infrastructure. In terms of new infrastructure, more projects will be added, and rapid growth will be achieved during the "14th Five-Year Plan" period. Keywords: infrastructure, infrastructure construction, domestic engineering news, planning investment

New power system energy infrastructure projects represented by power supply, power grid, and energy storage, as well as new infrastructure facilities projects represented by the Internet, big data, and 5G, will gain important development opportunities under the background of today's "dual carbon" strategy. In addition, national security infrastructure will also be developed to a certain extent, including food security-related infrastructure (such as food logistics systems, high-level granaries), infrastructure for natural disasters (such as water conservancy and flood control, shock absorption and isolation technology) ) and infrastructure construction in information, financial security, and energy. Editor/Xu Shengpeng


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