The third quarter，Major infrastructure projects across the country are in full swing.。In the northeast，Three expressway in Liaoning Province started at the same time，The estimated total investment is 73.7 billion yuan.，Opening the prelude to a new round of expressway construction in the province；In the central region，Hubei Province Holds Centralized Start-up Activities for Major Projects in the Third Quarter，1758 major projects with more than 100 million yuan have been started.、The total investment is 906.3 billion yuan.、The annual planned investment is 191.4 billion yuan.，Build for the province“Three highlands and two bases”Provide strong support；In the western region，The largest desert photovoltaic base in China——The opening ceremony of the photovoltaic composite project of the 3 million kilowatt new energy base in the Tengger Desert was held in Ningxia Hui Autonomous Region，Total investment 152.500 million yuan，Help the local energy structure、Industrial structure、Transformation and upgrading of economic structure……A string of bright data，Writing the splendor of China's infrastructure construction in the third quarter“Answer sheet”。

Li Shichao, managing director of Dayue Consulting Company, who is responsible for the preliminary consulting services of relevant construction projects in Liaoning Province, was deeply touched.：As a front-line person，Deeply feel the urgency of promoting infrastructure construction projects around the country。Especially since this year.，Infrastructure investment projects in the three northeastern provinces have increased significantly.，Mainly reflected in the field of transportation。With the rapid development of many infrastructure projects,，The future will be the economic growth of Northeast China.、Employment and many other aspects have a positive impact.。

Since this year，China's Steady Investment Policy Continues to Develop，Active expansion of effective investment，The role of investment in stimulating economic growth has been further enhanced.。“Effective investment promotes high-quality economic development，This has become the general consensus of local departments and people in the front line of infrastructure.。”Li Shichao told reporters。

The effectiveness of a package of policies and measures for steady growth has been continuously released.

Infrastructure construction is fundamental.、Precursor、Strategic、Leading role，It is the cornerstone of national economic and social development.。This year《Report on the work of the government》Point out，“Actively expand effective investment。Focus on the major strategic deployment of the country and‘Fourteen five’Plan，Infrastructure investment should be moderately advanced.。”Local infrastructure construction has been pressed one after another.“Fast-forward key”，Accelerate the formation of physical workload，Effective investment plays a key role in economic growth.。

The latest figures from the National Bureau of Statistics show that，With the steady economic package policy and the continuous release of policy effectiveness.，Construction of major projects has been accelerated.，The scale of effective investment continues to expand.，Its key role in economic recovery has been strengthened.。The first three quarters，The contribution rate of gross capital formation to economic growth is 26.7%，PullGDPGrowth 0.8 percentage points。Among，Total capital formation contributed 20% to economic growth in the third quarter.2%，PullGDPGrowth 0.8 percentage points。

“The growth rate of investment in fixed assets has accelerated.，Investment structure continued to improve。”Zhai Shanqing, director of the Fixed Assets Investment Statistics Department of the National Bureau of Statistics, said recently.，Since this year，All regions and departments conscientiously implement the Party Central Committee、Decision and deployment of the State Council，Actively play the role of coordination mechanism to promote effective investment in important projects，We should make good use of policy-oriented development financial instruments and local special debts.，Vigorously promote the implementation of the project as soon as possible，Accelerate the formation of physical workload，Play a key role in investment。Investment in fixed assets in the third quarter（Excluding farmers）Growth 5.7%，The growth rate was 1% faster than that in the second quarter.5 percentage points。Infrastructure investment in the first three quarters increased by 8% year-on-year.6%，The growth rate was 0. 5% faster than that from January to August..3 percentage points，Five consecutive months of recovery。

At present，China's economy is in an important window period of stabilization and recovery.，Can we achieve reasonable and stable economic growth throughout the year?，The third quarter is crucial。“Infrastructure investment grew by 8% year-on-year.6%，This is indeed an ideal performance.。”Li Kaimeng, chief economist of China International Engineering Consulting Co., Ltd., said in an interview with reporters.，The third quarter is the key period for the whole year.，It has a decisive impact on the realization of the year-round goals and tasks.。Especially in recent years, the growth of infrastructure investment is weak.，Infrastructure investment recovered significantly in the third quarter.，This shows that this year's package of measures to stabilize growth has indeed played a practical role.。

“On the whole，In Europe and the United States, stagflation has brought about a global economic downturn.、There is still a domestic and international background of the epidemic spreading in many places.，China's infrastructure investment has shown an ideal growth rate.，For stable expectations，Get out of the doldrums、Consolidating the recovery is even more important.。”Li Kaimeng analysis，Infrastructure investment showed strong growth in the third quarter of this year.，Especially water conservancy、Public facilities、Transportation investment grew rapidly.。With policy-based financial instruments and incremental special debt issuance funds in place，Infrastructure investment will maintain a relatively high growth rate.。Overall judgment，In the fourth quarter of this year, China's investment in fixed assets will remain relatively high.。

Expanding Effective Investment to Provide Key Support for Optimizing Supply Structure

The report of the 20th National Congress of the Communist Party of China，“Give full play to the strategic guiding role of national development planning，Strengthening fiscal and monetary policy coordination，Focus on expanding domestic demand，Strengthen the basic role of consumption in economic development and the key role of investment in optimizing the supply structure.。”

Investment is an important means to connect demand and supply.，Expanding effective investment is the focus of current macroeconomic policy.。Wu Yaping, a researcher at the Investment Research Institute of the National Development and Reform Commission, told reporters.，The state attaches great importance to expanding effective investment.，It is to prevent the emergence of projects with low or even no benefits from investment and construction.，So as to improve the marginal benefit of investment and the investment multiplier effect on the macro level.。Expanding effective investment with a long-term view，In the long run, it is conducive to adjusting and optimizing the investment structure, thus playing a key role in optimizing the supply structure.。

Expanding effective investment can make up for infrastructure.、Shortcomings and weaknesses of public services and ecological environment，So as to meet the people's needs for a better life with high quality.。At the moment，Infrastructure investment as economic growth“Ballast stone”The role is becoming more and more obvious.。The demand for infrastructure investment is the supply chain of the upstream industrial chain.“Sales revenue”，Yeah, steel、Cement、Sand and stone material、Upstream enterprises such as construction machinery and construction have obvious pulling effect.。“In the field of infrastructure，The key point is to strengthen the traditional infrastructure to make up for the shortcomings.，Increase the traffic、Water Conservancy、Investment in urban pipeline network and agricultural and rural infrastructure，In the long run, there is still a large demand for infrastructure, such as electricity and warehousing logistics, which can be moderately advanced investment.。”Wu Yaping said。

Since this year，Expanding effective investment provides key support for optimizing the supply structure.。Li Kaimeng said，Under the increasing downward pressure of the economy，The goal of actively expanding effective investment is not simply to contribute.GDP，It is to stabilize the economic market through investment.，Create better conditions for economic growth。Effective investment focuses on key areas and weak links of economic and social development，Precise and orderly implementation of a number of current benefits、It also benefits long-term investment projects.。So，Expanding effective investment is conducive to giving full play to the investment effect at present.，It is also conducive to promoting economic growth in a certain cycle in the future.。

Finance“Living water”Accelerate the formation of physical workload

Since this year，Financial funds from central and local governments、Special debt and policy-oriented development financial instruments continue to work hard.，Help stabilize the economic market。Supported by various national policies and measures，Finance“Living water”It is accelerating to flow into the field of infrastructure construction.，It provides strong and effective financial support.。

“Special debt is China's current response to downward pressure on the economy.、An important policy tool to stimulate effective investment。Since the second quarter，The state has been emphasizing the speed of issuing special bonds.，Do a good job in the reserve of special debt projects，Issue the issuance quota in advance，Pay close attention to the allocation and use of funds，O as to generate the physical workload as early as possible，Make special debt projects bring benefits into play as soon as possible，It has played an important role in accelerating the short board of infrastructure.。”Li Kaimeng said，At present, we still need to expand effective investment by accelerating the construction of infrastructure projects.，Stabilize the economic market。Special debt is expanding infrastructure.、Manufacturing、Investment in high-tech industries plays a significant role.，It is conducive to maintaining government fund expenditure and infrastructure investment at a relatively high growth level.，It can effectively leverage project investment.，Drive other sources of funding，Give full play to the investment multiplier effect，And further optimize the investment structure。

In June this year，The state has made it clear that new infrastructure will be built、New energy projects are included in the key support scope of special bonds.，Better play to steady growth、The positive role of stable investment。Policy-oriented development financial instruments also support investment in new infrastructure projects.，Investment in new infrastructure projects continues to increase.。Vice President of China Construction Political Research Group、He Pengpeng, executive deputy director of the government investment and financing research center, told reporters.：“Due to the new infrastructure, there is a large market demand for materials for high-tech manufacturing industry.，Investment in high-tech manufacturing in the third quarter increased by 23% year-on-year.4%，Most of them are driven by new infrastructure investment.。Based on the above policy support，Multiple places have been started based on‘Smart city’‘One network management’The planning of special bond projects or policy-oriented development financial instruments supporting projects with core construction contents.，Actively develop new infrastructure、New Energy Project，Carry out infrastructure investment through moderate advance，Improve the level of regional infrastructure，The main result is 2022.～The number and scale of planned investment projects have increased in 2023.。”

Broadening the channels of private investment、Promoting a virtuous circle of investment，Real estate investment trusts in the infrastructure sector（REITs）Played an important“Kernel”Take responsibility。At present，China has issued 20 orders.REITsProducts，The scale of fund raising reached 617.400 million yuan，Total market value 716.600 million yuan（Closing as of October 25, 2022），It is expected to gradually form a trillion yuan level in the future.，To provide a source of living water for the development of the real economy。The asset involves expressway、Industrial Park、Warehousing and logistics、Sewage treatment、Garbage disposal project、Gas-fired power generation、Affordable rental housing and other fields。Li Kaimeng analyzed，InfrastructureREITsThe pilot project is conducive to promoting the diversification of infrastructure investors.，Attract more private investment，Prompting the capital market to raise funds for new infrastructure，And then realize“Asset-Capital-Investment-Funds-Asset-Reinvest”A virtuous circle。

In the interview，Industry experts have said.，Invested in infrastructure“Speed up”Driving high-quality economic development“Big change”，It will stimulate more endogenous growth momentum.。“The preliminary work of each project needs a certain period.，Now the landing projects are often in half a year.、Started planning a year or more ago.，The third quarter can achieve such a growth rate.，It is also widely expected。”Li Shichao stressed，Guided by the spirit of the 20th National Congress of the Communist Party of China，The whole country is bound to work hard.，Promote the rapid landing of infrastructure projects，The growth data of infrastructure investment in the fourth quarter will also be more impressive.。