Since the third quarter，China continues to increase investment in infrastructure construction。

As infrastructure construction“Barometer”，Excavator sales and operating rates continue to grow，It reflects that the heat of engineering construction has not decreased.。Recently，The excavator index jointly released by Sany Heavy Industries and others shows that，In the third quarter of 2022, the average monthly operating rate of construction machinery in China was 64.76%，Higher than the monthly average of 60 in the first half of the year.37%。The sales data of construction machinery disclosed by China Construction Machinery Industry Association recently also proves the prosperity of the construction field.：October 2022，26 excavator manufacturing enterprises sell all kinds of excavators 2.0.05 million units，Year-on-year growth of 8.1%，It has achieved positive growth for four consecutive months.，And the year-on-year growth rate was the highest in the year.。

“Excavator is an important mechanical equipment widely used in the field of engineering construction.。The sales volume and operating rate of excavators，It is highly related to the cold and warm prosperity of the engineering construction market.，Can be said to be a leading indicator.。”Deputy Director, Enterprise Research Institute, Development Research Center of the State Council、Researcher Ma yuan pointed out in an interview with China Economic Times.，Excavator sales and operating rate maintained growth.，It proves that China's infrastructure investment is coming into effect.，Begin to form physical workload，At the same time, it also shows that the early coordination mechanism operates efficiently.，Effective work of optimizing examination and approval procedures，Funds related to project construction、Land use、Use energy、Environmental impact assessment and other safeguards are in place，It has effectively guaranteed the early start of construction of a number of major projects.。

Hong Qunlian, a researcher at the Institute of Industrial Economics and Technological Economics, China Academy of Macroeconomics, said in an interview with our reporter.，Traffic、Water Conservancy、Accelerate the landing and orderly implementation of infrastructure construction projects in information and other fields，To some extent, it also reflects the investment confidence of the market.。

Wang Zhigang, a researcher at the Chinese Academy of Fiscal Sciences, told our reporter.，Infrastructure investment is the key to stabilizing economic growth.，Excavator sales and operating rates continue to pick up，To some extent, it shows that China's economy is operating in a reasonable range.。

Ma yuan pointed out，From the perspective of investment data，The first three quarters，Total planned investment in new projects increased by 20 percent.8%，Investment projects（Excluding real estate development investment）Funds in place increased by 21.3%，This is conducive to the sustained and stable growth of investment.。The same period，Infrastructure investment（Power is not included、Heat、Gas and water production and supply industry）Year-on-year growth of 8.6%。Among，Investment in water conservancy management increased by 15 percent.5%，Much higher than the national investment in fixed assets 5.9%Year-on-year growth rate。According to industry statistics，September，Steel bar production increased by 17..4%，Cement production also turned positive for the first time.。

The substantial increase in medium and long-term loans to enterprises is also related to the accelerated landing of infrastructure investment.。The latest financial statistics released by the central bank show that，Medium and long-term loans increased by 462.3 billion yuan in October.。

At present，Why is infrastructure investment accelerating?？In Ma yuan's opinion，Although the overall domestic economy continues to recover the development trend.，However, the contradiction of insufficient effective demand is still prominent.，It is necessary to promote the expansion of investment and other policies to speed up the effectiveness.。The next step is to continue to optimize the approval.，Strengthen project linkage and coordination，Do a good job of land、Energy and other factors guarantee，Effectively mobilize the enthusiasm of private investment，Accelerate the construction of projects，Form more physical workload。

“Infrastructure investment will continue to maintain a reasonable growth trend in the future.。”Wang Zhigang said，From the supply side，Infrastructure investment can promote public capital formation.，To create good external conditions for enterprise production and social development。From the demand side，Infrastructure investment is also an important part of investment demand.，The increase in traditional infrastructure investment will be transmitted to production activities in other industries.，Form a driving effect。

Hong Qunlian thinks，Investment expansion should focus on the following two aspects.：On the one hand，Speed up the completion of transportation and water conservancy、Urban construction、Public service、Shortcomings in new infrastructure and other fields，Better support high-quality economic and social development；On the other hand，Actively adapt to greening、The trend of digital industrial transformation and consumption upgrading，Accelerate energy conservation and environmental protection in the field of production、Technological transformation and equipment renewal such as intelligent manufacturing，Create a batch of green consumption、New Scenario of Digital Consumption，Promote investment in related infrastructure。

It is worth noting that，Capital construction investment fund guarantee is more powerful。Ma yuan said，The recent executive meeting of the State Council has deployed a package of policies and follow-up measures to stabilize the economy.，Including making good use of fiscal and financial policy tools，Support major project construction、Equipment renewal and transformation。For those who fail to start work on time，Adjust funds for new projects。Support private investment in major projects。Speed up the loan for equipment renovation and transformation，Equal support for procurement of domestic and foreign equipment，Expand manufacturing demand and guide expectations。

Wang Zhigang pointed out，In recent years，The role of special debt is becoming more and more significant.，Risk management should be done from the perspective of the whole life cycle of the project.，Guarantee the balance of project financing income and cost，Fiscal sustainability while promoting economic growth。