2025 is the final year of the 14th Five Year Plan. Recently, from ultra-high voltage power grids to high-speed railways, from pumped storage to water conservancy hubs, the construction progress of major engineering projects in various regions has been constantly updated, injecting strong impetus into economic and social development. The interviewed experts stated that it is expected that major project investments will further increase in the future, and policy support will be further strengthened. The scope of financial support will continue to focus on the "dual" construction and the cultivation of new quality productivity, and will increase support for new infrastructure such as 5G/6G and computing power centers, key core technology research and development, and advanced manufacturing. Since July, a series of major projects have been accelerated, involving multiple key areas such as energy, transportation, and water conservancy. On August 20th, the Ningxia Hunan ± 800 kV HVDC transmission project of State Grid Corporation of China was officially put into operation for power transmission. As a key project in the national "14th Five Year Plan" for power development, this project is the first approved ultra-high voltage transmission channel in China, mainly used to transmit new energy from the "Shage Desert" wind and photovoltaic base. The total length of its DC transmission line is 1616 kilometers, passing through 6 provinces and municipalities, with a total investment of 28.1 billion yuan. Xing Yiteng, Deputy Director of the Development Planning Department of the National Energy Administration, introduced that according to monitoring, China's energy infrastructure construction maintained a good momentum in the first half of this year. The investment in key energy projects under construction and planned to start within the year exceeded 1.5 trillion yuan, a year-on-year increase of 21.6%. The construction of transportation infrastructure is also accelerating. On August 19th, the key control project of the Chongqing Kunming high-speed railway, the 21.17-kilometer Binghui Tunnel, was successfully completed; On August 18th, the steel truss beam of the Hanjiang Extra Large Bridge, a key project of the West Tenth High Speed Railway, was closed, marking the completion of the main bridge and tunnel engineering of the entire West Tenth High Speed Railway. In addition, the main bridge of the Yinghe Extra Large Bridge on the Fuhuai Railway has been successfully closed, and the key transportation project of the 14th Five Year Plan in Changchun City, Southeast Lake Road, has been fully opened to traffic, all of which are continuously improving China's transportation system. In terms of water conservancy engineering construction, the Liaoyang Irrigation District in Liaoning Province has recently been fully completed and put into use, ensuring irrigation of more than 100000 acres of farmland and an annual water-saving capacity of over 9 million cubic meters. The Dashixia Water Conservancy Hub Project in Aksu Prefecture, Xinjiang, has completed nearly 90% of the construction progress and is scheduled to lower the gate and store water by the end of September. Major projects are an important pivot for economic development and a key lever for high-quality development. According to data from the National Bureau of Statistics, infrastructure investment increased by 4.6% year-on-year in the first half of this year, with a growth rate 1.8 percentage points higher than total investment, driving a 1.0 percentage point increase in total investment. After more than four years of solid promotion, a series of significant progress and achievements have been made in the 102 major projects of the 14th Five Year Plan, and it is expected that all planning goals will be achieved by the end of the year. ”Li Chunlin, Deputy Director of the National Development and Reform Commission, stated. Ultra long term special treasury bond, special debt, etc. provide financial support for major project construction. It is reported that in 2025, a total of 800 billion yuan of ultra long term special treasury bond funds will be allocated to support 1459 projects, involving key areas such as ecological restoration of the Yangtze River basin, major transportation infrastructure along the Yangtze River, and new land and sea channels in the west. At present, the list of construction projects has been released completely. The 9th plenary session of the State Council held on August 18th proposed to strengthen and expand effective investment, give full play to the leading and driving role of major projects, adapt to changes in demand, invest more in people and serve people's livelihoods, and actively promote private investment. Yu Ze, vice president of the School of Economics of Renmin University of China, believes that the transformation of domestic industry has entered a new stage. In the face of a new round of global scientific and technological revolution and more complex security challenges, a series of new changes require further promotion of major project construction, which also opens a broad space for project investment. The construction of major engineering projects requires continuous capital investment, and it is expected that the supply of funds will continue to increase next year. ”Wang Yunjin, the chief financial researcher of Guangkai Chief Industrial Research Institute, said that on the one hand, by increasing the issuance of ultra long term special treasury bond, special bonds, and increasing the expenditure within the financial budget and other channels to provide financial funds, it is expected to continue to increase the extra long term special treasury bond to more than 1.5 trillion yuan next year; On the other hand, funds will be provided through new policy based financial instruments, collateral supplementary loans (PSL), support for state-owned enterprise credit and bond financing, and more social capital will be leveraged to participate in project construction. (New Society)