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.
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