NDRC: Transport Sector Investment Expected to Stay Large During 15th Five-Year Plan Period, Strict Measures to Prevent Herd-Following Project Speculation

Xia Xin, Director of the Infrastructure Development Department of the National Development and Reform Commission (NDRC), said transportation is the main force in infrastructure investment and plays an important role in stabilizing investment and promoting development. This year, the NDRC, together with transport industry authorities and factor-guarantee departments, has accelerated project approval procedures, strengthened project construction monitoring and dispatch, and efficiently completed the review and screening of projects funded by central budgetary investment, ultra-long-term special treasury bonds, local government special bonds, and new policy-based financial instruments, effectively supporting project construction and investment work. Investment in the transport sector is expected to remain at a large scale during the 15th Five-Year Plan period. The NDRC will adhere to the principle of "moderately ahead of demand, without excessive advance," and adopt stronger and more effective policy measures to support transport investment in stabilizing the economy. On the one hand, it will expand investment in emerging fields; on the other hand, it will focus on reducing projects with low returns, low utilization, and duplicative construction, and strictly prevent speculation on concepts in new fields and new business formats, guarding against a mad rush to follow trends. (Securities Times)