Summary:
China unveiled an early batch of 2026 infrastructure projects worth ~295 bn yuan
Funds target transport, water, energy and security-related projects
Spending aims to front-load investment ahead of the 15th Five-Year Plan
Ecological protection and carbon reduction also receive funding
Infrastructure remains central to China’s growth-stabilisation strategy
ICYMI: China has moved to front-load infrastructure spending for 2026, unveiling an early batch of major national projects and a central budget investment plan worth roughly 295 billion yuan (about US$42 billion), in a bid to accelerate investment momentum and support economic growth amid ongoing headwinds.
The country’s top economic planner, the National Development and Reform Commission, said the early approvals are designed to speed up the deployment and use of funds while laying the groundwork for a smooth start to China’s 15th Five-Year Plan period, which runs from 2026 to 2030. Officials framed the move as an effort to ensure projects are ready to break ground early in the new planning cycle, rather than being delayed by administrative bottlenecks.
According to the NDRC, around 220 billion yuan of the total allocation has been earmarked for 281 projects linked to major national strategies and security-related priorities. These include infrastructure such as underground pipeline networks and other projects viewed as critical to long-term economic resilience and national security. A further 75 billion yuan has been allocated to support 673 projects focused on areas such as ecological protection, energy efficiency and carbon-reduction initiatives.
The early-batch approvals span a wide range of sectors. In transport, key projects include the construction of a new airport in Guangzhou and the Zhanjiang–Haikou cross-sea ferry and associated route works, aimed at improving regional connectivity. Water conservancy projects include large-scale water allocation schemes in Liaoning Province and the Nanguaping Reservoir in Yunnan, supporting both flood control and long-term resource management.
Energy infrastructure also features prominently. Projects approved include an ultra-high-voltage alternating-current ring grid in Zhejiang Province and a hydropower station in Sichuan, underscoring Beijing’s continued emphasis on grid resilience, energy security and low-carbon generation.
The move builds on China’s heavy infrastructure push in recent years. In 2025 alone, the central government allocated around 800 billion yuan to its so-called “Two Major” programmes, which focus on large national projects and key security-related capacity building. Together, the new approvals signal Beijing’s intention to keep public investment as a key stabiliser for the economy, even as private demand and the property sector remain under pressure.
