2950亿资金下达，更大力度稳投资

Group 1 - The National Development and Reform Commission (NDRC) has organized the early batch of "two heavy" construction projects for 2026, totaling approximately 295 billion yuan, to accelerate the pace of fund allocation and usage [1] - In the "two heavy" construction aspect, around 220 billion yuan is allocated to support 281 projects in urban underground pipeline networks, high-standard farmland, and logistics cost reduction, emphasizing the strategic and forward-looking nature of these projects [1] - Over 75 billion yuan is allocated for central budget investments in public sectors such as urban renewal, water conservancy, ecological protection, and pollution control, supporting 673 projects to enhance government investment's guiding role [1] Group 2 - The NDRC is also accelerating the introduction of "soft construction" measures to improve investment efficiency, including enhancing financing models for urban underground pipeline construction and establishing long-term mechanisms for project implementation and maintenance [2] - Recent approvals for major infrastructure projects include investments exceeding 400 billion yuan in transportation, water conservancy, energy, and research facilities, which will strengthen China's modern infrastructure system [2] - The Central Economic Work Conference emphasizes the need to lead with domestic demand and stabilize investment, with plans to increase central budget investment and optimize project management to stimulate private investment [2] Group 3 - China's fixed asset investment growth continues to decline, with a 2.6% year-on-year decrease in the first eleven months of 2025, influenced by factors such as real estate market adjustments and increased domestic competition [3] - The decline in fixed asset investment has become a major drag on economic stability and domestic demand growth, prompting a systematic policy response to optimize projects and activate the market [3] - Investment growth is expected to moderately rebound to 2% to 3% in 2026 due to recent policy measures [3]