A view of the core Lujiazui commercial area in Pudong New Area, Shanghai on July 15, 2025. Photo: VCG
China has allocated 188 billion yuan ($25.9 billion) from its 2025 ultra-long special treasury bond funds to support equipment upgrades across major economic sectors, the National Development and Reform Commission (NDRC) said on Wednesday.
The funds will support about 8,400 projects in manufacturing, energy equipment, power, transportation, logistics, environmental infrastructure, education, culture and tourism, health care, elevators in aging residential buildings, electronics, agriculture, grain and oil processing, workplace safety and recycling, leveraging over 1 trillion yuan in total investment.
Since the beginning of 2025, the NDRC has worked with relevant central government agencies and local authorities to implement the “two new” policy, expanding the scope of equipment-upgrade support, refining project application and review standards, and strictly screening projects to advance upgrades in key sectors, the commission said.
The NDRC will work with relevant parties to strengthen coordination, advance projects, accelerate tangible progress, and enforce closed-loop fund management to ensure central government resources are effectively used and the “two new” policy delivers tangible results.
Global Times
