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Li Qiang Chairs State Council Meeting to Address Infrastructure Investment and Next-Generation Communication Networks

Premier Li Qiang presided over a State Council executive meeting on Friday to review the development of next-generation communication networks and coordinate efforts to clear overdue payments to enterprises. The meeting emphasized the need for stronger protection of critical network infrastructure and data security while promoting high-value applications in smart cities and intelligent manufacturing. To combat a decline in fixed-asset investment, which fell 6.7% in the first seven months of 2026, the administration announced a series of policy signals. These include an 800 billion yuan ($119 billion) policy-based financing tool designed to support 1,459 strategic projects in high-tech manufacturing and transportation. While the tool offers significant potential, analysts from Goldman Sachs and BNP Paribas have noted that slow approval speeds from local officials may limit its immediate impact. The administration also highlighted the importance of the "Six Networks" initiative, aiming to coordinate computing power, power grids, and communications to drive economic growth and stabilize private investment, which saw a 9.4% year-on-year decline.

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