锐财经｜促进有效投资，更多举措落地

Group 1 - The State Council's recent meeting emphasized the need to innovate and improve policies to promote effective investment, utilizing various financial tools such as central budget investments, ultra-long-term special bonds, and local government special bonds [1] - A series of policy measures aimed at promoting effective investment have been implemented, which are expected to stabilize investment and enhance its role in expanding domestic demand, optimizing supply, and benefiting people's livelihoods [1] Group 2 - In 2025, national fixed asset investment (excluding rural households) reached 48,518.6 billion yuan, a decrease of 3.8% from the previous year, indicating downward pressure on fixed asset investment due to local government debt and economic transition factors [2] - Investment in key sectors showed faster growth, with industrial investment increasing by 2.6%, contributing 0.9 percentage points to overall investment growth [2] Group 3 - In infrastructure investment, pipeline transportation investment grew by 36.0%, internet and related services investment increased by 23.8%, and multimodal transport and agency services investment rose by 22.9% in 2025 [3] - Private investment in infrastructure grew by 1.7%, accounting for 21.0% of total infrastructure investment, with significant growth in water management and road transport sectors [3] Group 4 - Equipment and tool purchase investment increased by 11.8% in 2025, contributing 1.8 percentage points to overall investment growth, with a focus on supporting over 8,400 equipment renewal projects through ultra-long-term special bonds [4] - The first batch of 936 billion yuan in ultra-long-term special bonds for 2026 has been allocated to support approximately 4,500 projects across various sectors, driving total investment exceeding 460 billion yuan [4] Group 5 - The National Development and Reform Commission (NDRC) is optimizing the implementation of "two new" policies to support equipment renewal by lowering investment thresholds and enhancing project review standards [5] - The NDRC aims to strengthen the management of equipment renewal projects and improve the efficiency of fund utilization through better coordination and monitoring [5] Group 6 - The NDRC highlighted the importance of effective government investment to avoid inefficient and redundant construction, focusing on improving project quality and maturity for central budget investments and special bonds [7] - The recent fiscal and financial policies aim to stimulate private investment, with measures including credit support, interest subsidies, and guarantees to lower financing costs and barriers for private enterprises [8]