China's infrastructure plan to spur domestic demand, economic change

"We should better harness the key role of effective investment," Li said, "Advancing new infrastructure development will help mobilise effective investment, sustain growth, readjust the structure and enhance people's wellbeing."

Information infrastructure development will be accelerated. National backbone networks and metropolitan area networks will be fortified with higher bandwidth in a coordinated way. Gigabit fibre optic networks will be remodeled to deliver faster connection, according to an official news agency.

The commercial use of new-generation mobile communication networks of scale will be advanced. Space-based information infrastructure will be improved for satellite communications, navigation, remote sensing and other purposes. Ubiquitous and collaborative Internet of Things will be developed.

Integrated infrastructure will be steadily developed. A multi-tiered industrial internet platform will be fostered to promote collaborative innovation. In line with advancing the new urbanisation, smart infrastructure will be built in transportation, logistics, energy and urban utilities.

Agriculture will be made more digitised. Infrastructure related to people's lives like telemedicine and online education will be advanced.

"The planning and construction of new infrastructure should move forward along with technological advances and innovation. We may plan ahead wherever possible, yet also take a fact-based approach and take things forward step by step," Li said.

In-depth integration among universities, research institutes and high-tech enterprises will be facilitated, to strengthen capabilities of high-level, interdisciplinary and frontier research. The research and development of industrial generic technology will be supported. Open and specialised makerspaces will be developed, to spur entrepreneurial activity and innovation.

"Government investment, such as central budgetary investment and local government special-purpose bonds, should be better utilised, to mobilise investment from the private sector, and advance the development of new infrastructure in a well-calibrated and well-paced way," Li added.

Fibre2Fashion News Desk (DS)