China Touts 50 Trillion Yuan in Infrastructure Spending, Yet Just 7.5 Trillion Scheduled for 2020
While domestic media reports have highlighted plans for nearly 50 trillion yuan (approx. USD$7.15 trillion) in infrastructure spending in China as the economy reels from the impacts of the coronavirus, only 7.5 trillion (approx. $1.07 trillion) of this amount is scheduled for implementation in 2020.
Research from Zhongtai Securities (中泰证券) has further determined that the amount of infrastructure spending for many of China’s regional governments has declined compared to 2019.
For a total of 11 provinces, including Yunnan, Sichuan and Fujian, the total infrastructure investment amount for key projects announced in 2020 is 27.68 trillion yuan, for a decline of over 50 billion yuan compared to the 27.74 trillion yuan in key projects announced in 2019.
Figures from the National Development and Reform Commission (NDRC) indicate that as of 3 March the authority had approved infrastructure projects worth 228.605 billion yuan in total, for an increase of 93.029 billion yuan compared to the same period last year.
Future Investment Plans Publicly Announced by 25 Chinese provinces
|Region||Total investment amount (trillion yuan)||Investment projects||2020 investment amount (trillion yuan)|