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Xinyi Wu

China’s top economic planner has held meetings over two consecutive days on accelerating major construction projects, signalling urgency over bolstering fixed-asset investment as economic momentum slows.
The National Development and Reform Commission (NDRC) met with representatives from several ministries on Thursday to review the progress of the 109 major projects proposed under the country’s latest five-year plan.
Officials called for accelerating the implementation of ongoing projects and promoted the early commencement of new projects, according to a statement released on Friday.
The NDRC also held a meeting on Wednesday on strengthening financing mechanisms for China’s six networks, an infrastructure programme under the five-year plan to upgrade the country’s water, electricity, computing, telecommunications, logistics and underground pipe systems by 2030.
Authorities at the meeting called for strengthening of information-sharing with financial institutions, encouraging the participation of private capital and better leveraging the role of government investments, according to a separate statement.
The two meetings followed a slew of similar sessions held by the NDRC last month, including a rare national meeting convened last Friday to promote investments in areas such as technological innovation, industrial upgrading and urban renewal, with officials pledging faster disbursement of fiscal funds for major construction projects.
Beijing’s priority was now set on boosting investment, said Song Yu, chief China economist at UBS Securities.
Overall fixed-asset investment, covering major areas such as infrastructure, manufacturing and property construction, fell 6.7 per cent in the January-July period.

This was despite 2026 being the first year of China’s new five-year plan cycle, which typically sees stronger investment as authorities begin work on planned projects laid out in the new development blueprint.
As of August 28, only about 67 per cent of China’s annual quota of special local government bonds had been issued, while 800 billion yuan (US$119.2 billion) of policy financing tools remain unused, according to Song’s estimates in a report on Monday.
“The focus is on spending the money [that’s] available now on projects,” Song said. “There could be a round of additional support later in the year, with adjustments to annual bond issuance and other plans.”
The decline in investments has dragged on China’s economic growth, which slowed to 4.3 per cent in the second quarter, the softest quarterly expansion since late 2022.
China has set a target of expanding its economy by between 4.5 and 5 per cent for the year, but growth has become increasingly uneven, constrained by soft domestic consumption and investment but buoyed by strong exports and the technology sector.
The NDRC also held meetings last month to speed up the issuance of the new policy-based financial instruments, increase support for private investment projects, and coordinate support policies for the six networks initiative.
On Monday, Chinese Premier Li Qiang chaired a State Council executive meeting, urging acceleration of construction of the urban underground pipe network, part of the country’s urban renewal push, to eliminate safety hazards at their source and improve urban functions.


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The NDRC urges faster work on major projects and the six networks initiative to reverse falling investment


The NDRC urges faster work on major projects and the six networks initiative to reverse falling investment.


China pushes to speed up key infrastructure builds amid investment declines

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The NDRC urges faster work on major projects and the six networks initiative to reverse falling investment

The NDRC urges faster work on major projects and the six networks initiative to reverse falling investment