New projects expected to help stabilize growth and support innovation
More investment in new infrastructure projects relating to information and the Internet is expected in 2019. This is thanks to government efforts to boost infrastructure investment to support economic growth, China Securities Journal reported.
Since last year, many infrastructure projects have been approved in the areas of 5G, UHV, Internet of Things, and Industrial Internet. This year, such projects will be accelerated, according to Lian Ping, chief economist at the Bank of Communications.
Jiang Chao, chief economist at Haitong Securities, thinks new infrastructure is an extension of traditional infrastructure, helping to both stabilize growth and boost innovation.
New infrastructure such as artificial intelligence, industrial Internet, and the Internet of Things will drive demand for products in related industries such as communications, computers and electronics, Jiang said.
Also, these new infrastructure projects are the key to transforming and upgrading the manufacturing industry, Jiang added.
It is estimated that infrastructure investment will increase by 10% in 2019 and become a key force driving investment, according to Lian. Atimes*
