Until the fourth quarter，The economic target for the whole year has entered a critical period.，Accelerate the construction of major projects in many places。

According to data released by the National Bureau of Statistics recently,，2023 1—September，National investment in fixed assets after deducting price factors，Year-on-year growth of 6.0%。Among，Infrastructure investment increased by 6% year-on-year.2%，Investment in infrastructure and other key areas to make up for shortcomings grew rapidly.，The contribution rate of large projects to investment growth is 1—In August, it increased by 10.8 percentage points。

In recent times.，Successive deployment of key work in the fourth quarter，Among them, accelerating the landing of investment projects、Develop new infrastructure、Upgrading the business environment has become the focus.。

It is generally believed in the industry，As the previous policy continues to work, it is effective.，Infrastructure investment is expected to stabilize，The growth rate of fixed asset investment will probably pick up in the fourth quarter.，Among them, the steady growth of infrastructure will remain an important driving force.。

The driving role of large project investment is obvious.

The fourth quarter is the golden period to promote project construction.，It is also a critical moment to achieve the year-round goals.。From the point of view of the key work in the fourth quarter，Expanding effective investment and strengthening efforts has become a key move.。

In the near future，And other provinces sounded the horn of the sprint.，It is proposed to speed up the investment progress.、Increase investment growth。Proposed by Shaanxi，In the fourth quarter, we must fight hard for steady investment.，More than 600 provincial and municipal key projects should be started quickly.，Provide strong support for the stabilization and recovery of investment；Henan stressed，Insist that the project is king.，Give full play to the steady growth of project construction、Expand investment、Supporting role in increasing kinetic energy。

At the same time，At the mobilization meeting of the fourth batch of major projects in Anhui Province in 2023，Centralized mobilization of 1089 projects，Total investment of 7074.600 million yuan；In the field promotion activities of a new batch of major projects held in Sichuan Province in 2023,，A total of 1874 major projects have been launched.，The total investment is 1080.8 billion yuan.。

Recently，National Bureau of Statistics releases latest economic data，The data shows，In the first three quarters, the national economy continued to recover.，Steady progress in high-quality development。Preliminary accounting，In the first three quarters, the gross domestic product was 9.13027 trillion yuan.，At constant prices，Year-on-year growth of 5.2%。

Among，The first three quarters，National investment in fixed assets（Excluding farmers）375,03.5 billion yuan，Year-on-year growth of 3.1%,Growth rate ratio 1—A slight drop of 0 in August.1 percentage point。Deduct the influence of price factor，Year-on-year growth of 6.0%，The growth rate was 2% faster than the same period last year.5 percentage points。Deduct investment in real estate development，National project investment increased by 7.4%。

Since 2023，Various departments in various regions closely focus on better promoting high-quality economic development and building a modern industrial system.，Actively expand effective investment，Continuously expand the policy space for promoting investment，Efforts should be made to mobilize the enthusiasm of private investment.，Accelerating New Industrialization，Promote the steady growth of investment in fixed assets。

Look at different fields，Continue to promote traffic、Water Conservancy、Short-board investment in key areas such as energy，Investment in related industries grew rapidly.。The first three quarters，Infrastructure investment increased by 6% year-on-year.2%，The growth rate is 3% higher than total investment.1 percentage point。Among，Investment in water transport increased by 23 percent.3%，Investment in railway transportation increased by 22 percent.1%，Investment in information transmission industry increased by 6.8%，Investment in water conservancy management industry increased by 4 percent.9%。

At the same time，Speed up the progress“Fourteen five”Planning 102 major projects and other major economic and social projects，The driving role of large project investment is obvious.。The first three quarters，Investment in projects with a planned total investment of 100 million yuan or more increased by 10 percent.2%，Growth rate ratio 1—August accelerated by 0.3 percentage points，7% higher than total investment in fixed assets.1 percentage point；Contribution rate to the growth of total investment in fixed assets: 1—In August, it increased by 10.8 percentage points。

The National Bureau of Statistics said，In the next stage, we should further deepen and refine the relevant policies and measures to promote the development and growth of private economy.，Continuously stimulate the vitality of private investment；Continue to consolidate the growth of investment，Enhancing the key role of investment in optimizing the supply structure。

Financial and fiscal support for rapid growth of investment

Behind the acceleration of project construction，It is inseparable from the support of funds.。

Since 2023，Steady monetary policy and precise efforts，The intensity of counter-cyclical adjustment is increasing.，Make efforts to promote consumption、Steady investment，The real economy has provided strong support.。At present，The central bank has implemented two RRR cuts this year.、Cut interest rates twice，The strength of monetary policy is obvious。

Central bank data show，RMB loans increased by 19% in the first three quarters.75 trillion yuan，Year-on-year increase of 1.58 trillion yuan。Among，Enterprise loans, especially medium and long-term loans, have increased considerably.，It provides sufficient financial support for stable investment.。By the end of September，Medium and long-term loans to the manufacturing sector increased by 38% year-on-year.2%，Medium and long-term loans to the infrastructure industry increased by 15..1%。

According to the Bank of China Research Institute recently released《Economic and Financial Outlook Report for the Fourth Quarter of 2023》，Speeding up capital construction investment、Steady growth in manufacturing investment，It is expected to lead to a slight rebound in investment。With the accelerated issuance of follow-up special bonds and investment in project construction，Infrastructure investment growth is expected to pick up。

Financially，Since the third quarter, the issuance of special bonds has accelerated.，Steady investment policy continues to increase，It has also become a key factor for the current investment growth rate to be higher than the same period last year.。

On the one hand，Issuance scale of new special bonds in August 5945.7.7 billion yuan，A monthly high since 2023；3569 new special bonds issued in September.3.4 billion yuan，Still maintain a relatively fast pace。On the other hand，739.9 billion yuan of policy-oriented development financial instruments have been fully invested before.，The first batch of investment quota is 300 billion yuan.，The voice of increasing the amount of policy-oriented development financial instruments is gradually rising.。The industry believes，It does not rule out the possibility of further increasing the quota of policy-oriented development financial instruments by 300 billion yuan to 600 billion yuan in the fourth quarter.。

In addition，The Ministry of Finance had previously pointed out when deploying the fiscal work in the second half of 2023.，Efforts should be made to improve efficiency and implement a proactive fiscal policy.，Speed up the issuance and use of local government special bonds，Guide and drive social investment。

Ministry of Finance responsible person said.，Speeding up the issuance and use of special bonds，Promote the expansion of effective investment。Since 2023，The Ministry of Finance actively guides local governments to strictly check and verify special bond projects.，Do a good job in basic work such as project reserve，At the same time, optimize the allocation of special bond quotas.，The focus should be on major economic provinces, especially those with concentrated manufacturing industries.，Give priority to supporting projects with high maturity and projects under construction。1— August ，The amount of new special bonds issued is 3.7 trillion yuan，Financial departments at all levels continue to accelerate the issuance and use of special bonds.。

Institutional statistics show that，Since the third quarter，The issuance of local bonds has accelerated significantly.。1—September，A total of 34487 billion yuan of new special bonds were issued nationwide.，Accounting for 90% of the new special debt quota for the whole year.8%，The remaining quota will be basically issued in October.。The proportion of new special debt funds used in infrastructure construction has increased.。Among the new special bonds issued in September，Investment in infrastructure 2315