Economy Mar 18

China to speed up 5G network, data center projects

Beijing urged local governments to push forward the resumption of companies’ production and operations

by Xu Yuenai
China to speed up 5G network, data center projects
Chinese companies will continue to speed up the resumption of their production and operation. Photo: Xinhua

(ATF) – China’s State Council has called for speeding up the resumption of major infrastructure projects and the launch of new businesses to help improve people’s livelihoods and stabilise the job markets. 

While maintaining the necessary epidemic prevention and control measures, local governments should cancel any unreasonable regulations that restrict companies from resuming their production and operation, Xinhua reported, citing a State Council meeting chaired by Premier Li Keqiang on Tuesday.

They should let workers resume their work as soon as possible, it said.

The Chinese government will expand the scheme of new business guarantee loans to cover more high-quality projects and alleviate the financing difficulties for small and micro firms and other private companies.

The government will treat the resumption of major infrastructure projects as a way to stabilise capital investment and domestic consumption growth in the country, the State Council said.

The government will speed up the construction of major projects and infrastructure that have previously been planned, including the construction projects related to 5G networks and data centres, Liu Shihu, deputy director of the investment division of the National Development and Reform Commission, said at a press conference on Tuesday.

It will expand the scale of local government special bonds and increase the pace of these projects, Liu said.