国家发改委发布会介绍一揽子政策推进情况，并预告政策支持措施

Group 1: Macroeconomic Policies - The National Development and Reform Commission (NDRC) has allocated a total of CNY 700 billion for central budget investments, fully directed towards "two heavy" constructions[1] - An additional CNY 1 trillion in ultra-long-term special bonds has been fully allocated to projects and local governments, with plans to continue issuing these bonds next year[1] - The NDRC plans to announce a list of CNY 1,000 billion for "two heavy" construction projects and another CNY 1,000 billion for central budget investments by the end of this month[1] Group 2: Infrastructure Investment Focus - The NDRC highlighted that the total investment required for underground pipeline construction and renovation over the next five years is approximately CNY 4 trillion, with nearly 600,000 kilometers needing renovation[1] - The remaining CNY 290 billion of special bonds for this year will be issued by the end of October, with an emphasis on supporting urban railways and rapid transit projects[1] Group 3: Debt Management and Market Stability - The NDRC aims to enhance support for local governments in debt replacement, potentially through the issuance of additional special bonds or ultra-long-term bonds[1] - Measures to stabilize the capital market include encouraging long-term funds to enter the market and supporting mergers and acquisitions of listed companies[1] - The NDRC is expected to implement policies to protect small and medium investors, with various measures being expedited for rollout[1] Group 4: Future Expectations - The government may announce an increase in special bond issuance of CNY 2-3 trillion to stimulate consumption and address local debt risks, with potential announcements expected in mid-October[2] - There is a possibility of expanding the use of special bonds to support idle land and accelerate the consumption of existing housing stock[1]