Capital markets were let down as a closely watched press conference featuring China’s top economic planner on Tuesday failed to provide significant stimulus, despite unveiling a “package of incremental policies”.
The exceptions were two “100 billion yuan (US$14.2 billion)” investment plans.
National Development and Reform Commission (NDRC) chairman Zheng Shanjie announced that 100 billion yuan would be advanced from the 2025 central fiscal budget this year, along with releasing a list of strategic construction projects that would require a cumulative 100 billion yuan in funding.
What kind of projects will be funded?
Scarce details were provided at the press conference about the two investment plans.
After the initial announcement from Zheng, NDRC deputy chairman Liu Sushe further specified that the timeline for the issuance of the two plans would be “by the end of this month”.
The projects involved had been carefully screened by the NDRC and relevant parties, Liu added.
“Those that are in line with the investment direction, have mature preliminary work, and meet the launching conditions, can materialise in physical investment as soon as possible within the year,” Liu said.
