US$1.5 Trillion to be Spent on Smart Infrastructure in China in 2021-2025

• 5 July 2022
• Construction Focus
• 1212 Views

China’s State-owned enterprises (SOEs) have revealed plans to invest over US$1.49 trillion in more than 1,300 smart infrastructure schemes across the country during from 2021 to 2025, to boost sustainable economic growth.

According to a China Daily report in June, those development projects are not the traditional types like railways, roads, and water conservancy, but will focus on infrastructure based on information technologies like 5G, artificial intelligence, industrial internet and the internet of things.

Peng Huagang, Secretary-General of the Assets Supervision and Administration Commission of the State Council (SASAC) said the investment would promote the transformation of traditional sectors and bolster the growth of emerging industries.

The aim is to apply the benefits of AI and big data processing to the bricks-and-mortar economy and give smaller companies a guaranteed pipeline of orders to persuade them to upgrade their businesses.

China would also put in place a system for big data integration, based on eight computing hubs and 10 clusters of data centres.

The scheme is planned with the cooperation of 70 companies, which last year invested more than US$60 billion to expand their capacity to carry out digitally enhanced schemes.

Those projects include the Beidou satellite navigation systems and blockchain, as well as collaborative platforms for sectors such as offshore engineering equipment, logistics and big data processing.

To date, overseas assets of the largest state-owned companies had reached US$1.2 trillion, covering over 8,000 projects in more than 180 countries and regions.

• Projects Development
• Road and Infrastructure