“New infrastructure” has become a hot topic in China’s national economic policy agenda to fight the economic impacts of Covid-19. First conceptualized in late 2018, the initiative came to the fore in 2020, and is poised to be a primary growth driver for the Chinese economy for years to come, trillion CNY investments are expected in the next few years. It can be compared with the Belt and Road Initiative but is domestically oriented.
Given its importance, information about new infrastructure is scarce, fragmented, and fast evolving. Caixin Global Intelligence, a strategic advisory helping clients assess policy risk and macroeconomics in China, and Sinolytics have jointly produced a report diving deep into the initiative’s development, future trends and economic impacts, as well as potential opportunities and risks for investors, equipment and application providers, and policymakers.
New infrastructure will serve as the foundation for China’s next phase of technological development, meant to enable a fourth industrial revolution. Local governments have raced to announce development plans, with nearly every province featuring new infrastructure in their annual work reports. Where are they exactly, and how many of them will garner enough funding and materialize? In the few months after the initiative’s announcement, the market is already crowded. How soon will it become overheated? It certainly will test investors’ ability to distinguish truly worthwhile investments from duds seeking to ride the wave.
What the report covers
Including data-driven in-depth studies of new infrastructure sectors such as 5G, high-speed rail, ultra-high voltage electric grids, NEV charging stations, and more, this is the first English-language report to cover both the policy development of the initiative and its economic impacts, and arguably the first one which brings disparate central and local government plans together into a comprehensive analysis.
Read the introduction here
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