South China Morning Post:

I would like to ask whether the NDRC will consider accelerating the approval and construction of local infrastructure and other government investment projects, especially some large-scale, cross-regional projects. Is there a specific list? Thank you.

Zheng Shanjie: 

Thank you. Many places, departments, businesses and operating entities are very concerned with these issues. Mr. Liu will address this.

Liu Sushe:

The Political Bureau of the CPC Central Committee's meeting on Sept. 26 emphasized the need to issue and effectively use ultra-long special treasury bonds and local government special-purpose bonds to better leverage the role of government investment. In the current economic situation, reasonably increasing infrastructure investment helps maintain stable investment growth and promotes steady and healthy economic development. Regarding your question on whether the approval and construction of local infrastructure investment projects will be accelerated, we at the NDRC consider the following three points:

First, we will select the right investment direction. Projects must focus on the needs of economic development and the improvement of people's well-being, precisely addressing weaknesses and strengthening deficiencies. For example, urban renewal and renovation, which have significant investment potential and clear economic and social benefits, should be key directions for future local infrastructure investments.

Second, we will solidify preliminary work. Local investment projects must conduct thorough preliminary feasibility studies, adhere to the principle of evaluation before decision-making and scientifically determine project plans for construction. Projects must efficiently complete relevant approval procedures and establish construction conditions according to regulations, ensuring smooth project implementation.

Third, we will secure project construction funding. It is essential to fully evaluate project funding plans as well as lawfully and compliantly secure construction funds from various channels. Particularly, for eligible projects, we will consider appropriately increasing central government support with investments to effectively reduce the financial burden on local governments.

That concludes my response. Thank you.