The commission approved more projects in one week than in July and August combined
Thirteen projects were approved between September 7th and 14th, meaning that the number of infrastructure projects announced in the past week has more than doubled the total for July and August combined. According to statistics, the total investment of 19 projects approved in the third quarter exceeded 330 billion yuan, and the total investment of projects approved since the beginning of this year has reached nearly one trillion yuan.
With the third quarter not yet over, the number of infrastructure projects announced by the National Development and Reform Commission has already equaled the average of the previous two quarters to 19. It is observed that 13 of these projects were approved between September 7 and 14, which means that the number of infrastructure projects announced in the past week has been more than double the total number of projects in July and August.
13, the National Bureau of Statistics has just been released, according to data from January 2015 to August, the national investment in fixed assets year-on-year growth of 10.9%, the nominal growth rate of more than 1 to fell 0.3% in July, several experts agree that investment in infrastructure has become the main drive of fixed asset investment growth engine, is also a stable current economic fundamentals YaCangShi.
According to statistics, the total investment of 19 projects approved in the third quarter exceeded 330 billion yuan, and the total investment of projects approved since the beginning of this year has been nearly one trillion yuan.
In the intensive approval of infrastructure projects at the same time, the National Development and Reform Commission also held a meeting yesterday, the deployment of eight measures to promote steady growth of investment.
More than 200 billion yuan was invested in railway projects
Liu Xiahui, a researcher at the Institute of Economics under the Chinese Academy of Social Sciences, said the outside world was optimistic about the performance of the Chinese economy at the beginning of the year, and both of the first two quarters met the 7 percent target, but some fluctuations since the third quarter have raised concerns.
One manifestation of the volatility is the continued decline in fixed-asset investment growth. It is worth noting, however, that infrastructure investment grew 18.4 percent year on year, 0.2 percentage points higher than in the January-July period, amid the overall dismal data. Infrastructure investment contributed 27.7 percent of total investment growth from January to August, up 5.7 percentage points from the same period last year, said Wang Baobin, a senior statistician with the investment department of the National Bureau of Statistics.
The 13 projects approved by the National Development and Reform Commission within a week, including five railway projects, six road projects, one highway bridge project and one tunnel project, total investment of nearly 300 billion yuan, among which the investment in five railway projects alone reached 210 billion yuan. Notably, according to the railway Corporation, only 283.6 billion yuan of railway investment was completed in the first half of this year, compared with the full-year target of 800 billion yuan, and an acceleration of railway investment in the second half of the year is almost certain.
According to Zhuochuang Information, the railway alone will need to consume about 17.12 million tons of steel in the second half of the year to fulfill this year's 800 billion yuan capital construction investment target, which will largely alleviate the oversupply pattern in the domestic steel market.
In addition, the report released by Zhuo Chuang information believes that with the promotion of infrastructure investment, not only good steel city, improve economic indicators, the implementation of these infrastructure projects will also alleviate the current situation of excess labor at this stage, solve part of the idle labor force.
Multiple measures will be taken to promote steady growth of investment
While maintaining steady growth, such a large amount of investment in projects also means capital investment in projects of a corresponding scale.
On September 14th, the Chinese government net announced on the adjustment and improve the system of capital of the fixed assets investment projects of circular, clear the relationship of the national economy and people's livelihood port, coastal and inland waterway transport, airport and other fields of fixed assets investment project minimum capital ratio from 30% to 25%, railways, highways, urban rail transit project fell to 20% from 25%.
Zhang Yong, deputy director of the National Development and Reform Commission, introduced at the regular policy briefing of The State Council that the adjustment and improvement of the capital ratio of fixed investment projects, from the structure of the current people's livelihood and economic development needs of some projects of capital ratio, will speed up to make up for public goods, public services and other development "short board".
Adjusting the capital ratio is only one of the measures to promote investment and stabilize growth. The National Development and Reform Commission also held a meeting on Sept 14 to formulate eight measures to promote steady investment growth. The eight measures are as follows: first, we will focus on the investment of special construction funds and give full play to the effect of combining investment and loans and combining debt and loans; Second, we will actively advance price reform of public utilities and infrastructure, and promote cooperation between the government and private capital. Third, we will accelerate the implementation of the three major strategies, including urbanization, mass entrepreneurship and innovation, and international cooperation on production capacity, and focus on implementing key projects. Fourth, we will continue to increase government investment and speed up efforts to address weaknesses in building a moderately prosperous society. Fifth, we will formulate a three-year rolling investment plan and strengthen the reserve of major projects. Sixth, streamline administration, delegate power, improve regulation and improve services in an orderly manner to stimulate the vitality of market entities and the internal driving force of the economy. 7) We will continue to reform the investment and financing systems and channel the flow of financial capital into the real economy. Eighth, we took a combination of measures to promote steady economic growth in all directions and worked hard to achieve the main goals of economic and social development for the year.