Caixin
Apr 20, 2020 05:41 PM
ECONOMY

China Defines ‘New Infrastructure’ to Boost Economy

What’s new: China’s top economic planner has defined the meaning of “new infrastructure,” a widely-discussed term that many think will enable China to energize economic development.

Wu Hao, head of the department of high-tech industry of the National Development and Reform Commission (NDRC), said at a Monday briefing (link in Chinese) that “new infrastructure” is led by new development concepts, driven by technological innovation and based on information networks, to fulfill the needs of high-quality development.

Wu said that new infrastructure mainly includes three aspects: information-based infrastructure such as 5G and the Internet of Things; converged infrastructure supported by the application of the internet, big data and artificial intelligence, such as smart transportation and smart energy infrastructure; and innovative infrastructure that supports scientific research, technology development and product development.

What’s next: To boost the development of new infrastructure, Wu said that the NDRC will work with relevant departments to strengthen top-level design and issue relevant guidelines.

The NDRC also plans to speed up the deployment of 5G networks and the construction of big data centers, Wu said.

Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.

Contact reporter Timmy Shen (hongmingshen@caixin.com)

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code