Against the background of steady growth, infrastructure investment has become the focus of the market. China is injecting trillions of yuan into the field of infrastructure investment. This stimulus measure will benefit the world's second-largest economy far and wide, not only to eliminate the 2022 Adverse effects of COVID-19 prevention and control and real estate market volatility. China is providing 6.8 trillion yuan (about 1 trillion U.S. dollars) of government funds for related construction projects. By some estimates, China's total construction spending is even higher -- three times that -- once bank loans and corporate funding are added.

In the short term, infrastructure investment will boost employment and ease the urgency of millions of job seekers affected by the economic downturn. In the long run, these stimulus measures will help China achieve its ambitions to become a more urbanized, high-income economy, better able to compete with the United States in high-tech fields such as semiconductors. The success of these projects will affect China's prospects for many years to come. The following is the main flow of these funds.

More renewable energy than in Europe The deserts of northern China will usher in an unparalleled boom in renewable energy construction. Construction has begun in recent months on wind and solar "bases" that will have renewable energy capacity comparable to the current capacity across Europe by 2030. The first phase of about 100 gigawatts of turbines and photovoltaic panels will be reached next year, with another phase (450 gigawatts) starting in 2022. China is expected to expand its lead over Europe and the US in solar and wind energy. According to Chinese state media, the second phase will cost more than 3 trillion yuan. Ultra-high voltage transmission lines will carry energy to the densely populated eastern seaboard. China's state-owned power grid company plans to build 13 of these lines in 2022.

The world's longest water channel China has accelerated the construction of canals, dams and reservoirs, and will invest more than 800 billion yuan in these projects in 2022. The most ambitious of these is a 200-kilometer canal, also known as the South-to-North Water Diversion Project, that will transport water from the Yangtze to the reservoirs that supply the north. This will be the longest water channel in the world.

University of Melbourne researchers estimate that nationwide water delivery projects account for about one-third of China's water infrastructure spending, and the planned projects will increase China's water availability by 122 billion cubic meters per year - about as much as Germany's annual water consumption. 5 times. As highly labor-intensive projects, the government favors these projects. China's Ministry of Water Resources said about 30,000 water conservation projects underway provide about 1 million jobs.

From concrete pie to greener cities Local governments are most fond of building urban infrastructure, including urban roads, gas and water pipeline networks and parks, which account for a large portion of China's infrastructure spending. After decades of sprawling concrete, the focus is turning to building greener cities. The "Songya Lake Ecological New City" in Central China (Changsha County), which will start construction in 2022, will cost about 200 billion yuan, of which 70% of the area will be dedicated to greening and water sources. This is roughly the same proportion of buildings and natural spaces as the Xiongan New Town under construction near Beijing, which is now used as a construction model by planning agencies across the country.

Another investment favored by local governments is an industrial park that provides low-cost facilities for businesses. In the first quarter of 2022, local governments will use about a third of the funds raised through bond sales for urban infrastructure and industrial parks, official data show.

More than double the mileage of high-speed rail in the rest of the world China has 40,000 kilometers of high-speed rail, more than twice the total length of high-speed rail in the rest of the world, and dozens of high-speed rail projects are still underway. The most ambitious line is 1,629 kilometers long and runs from Sichuan Province to Lhasa, the capital of the Tibet Autonomous Region. The project is expected to be completed by 2030. The total cost of the entire project is about 320 billion yuan. China said in 2022 that it plans to have 70,000 kilometers of high-speed rail by 2035, and build and renovate 58,000 kilometers of expressways. Meanwhile, Chinese cities are still rapidly building new subway lines.

A 400-billion-yuan-a-year data center project As part of an effort to expand the digital economy, China's "East and West" project involves building large data centers in relatively impoverished western provinces to store data generated by internet companies headquartered in the eastern region. The construction of 8 data center clusters (should be 8 national computing power hub nodes and 10 national data center clusters - editor's note) will cost about 400 billion yuan per year. Keywords: infrastructure, infrastructure construction, domestic engineering news, planning and investment

"The central government sees data center construction as a way to spread the benefits of the digital economy beyond developed coastal cities, as well as enable China's domestic market," said Gronevegen-Rau, an analyst at a German think tank. Greater protection from external shocks.” Editor/Xu Shengpeng