China's National Development and Reform Commission said it will seize the third-quarter construction season to accelerate the deployment of 800 billion yuan in new-type policy financial instruments, according to remarks at a recent press conference, as Beijing steps up investment support for the economy.
Implementation Plan for Expanding Domestic Demand
The NDRC revealed that an implementation plan for the strategy of expanding domestic demand (2026-2030) is being drafted. The plan will coordinate consumption and investment, with a focus on upgrading traditional demand drivers while cultivating new growth engines in technology and services.
The commission also noted that 755 billion yuan of central budget investment for this year has been essentially fully allocated, and 109 major projects are being accelerated under the 15th Five-Year Plan framework.
Q3 Construction Season Priority
"We will seize the third-quarter construction peak season to speed up the utilization of the 800 billion yuan in new policy financial instruments," the NDRC said. The instruments are designed to leverage private capital through government-backed financing vehicles targeting infrastructure, urban renewal, and technological upgrading projects.
Officials emphasized that the investment will prioritize projects with quick implementation and strong economic multipliers, including transportation networks, water conservancy, and new infrastructure such as computing power facilities.
Complementary Policy Package
The investment push complements the Political Bureau's July 30 directive on increasing counter-cyclical adjustment, the PBOC's commitment to moderately loose monetary policy, and the State Council's approval of the 15th Five-Year Plan for expanding consumption, which lists housing as the first item among major durable consumer goods.