The latest meeting of one of the Chinese Communist Party’s (CCP) top economic policy bodies has signalled increased spending on infrastructure as part of efforts to keep China’s economy on an even keel.
The meeting of the Central and Financial and Economic Affairs Commission (CFEAC) convened by President Xi Jinping on 26 April called for “comprehensively strengthening infrastructure development, establishing a modernised infrastructure system, and comprehensively setting firm foundations for the development of a modernised socialist nation.”
To this end, the CFEAC meeting also called for:
- Expanding long-term funding channels and expanding fiscal investment, in order to better concentrate and guarantee funds needed for major national infrastructure development.
- Strengthening transit, energy, hydrological and other infrastructure networks.
- Improving rural village transit and delivery systems, and accelerating the development of urban-rural cold-chain logistics.
- Effectively guiding market expectations, clearly explaining policy guidance and principles, and stabilising market confidence.