China earmarked CNY 188 billion (USD 25.9 billion) from its 2025 ultra-long special treasury bond funds to back equipment upgrades across major sectors, the National Development and Reform Commission (NDRC) said Wednesday. The funding will cover about 8,400 projects spanning industry, energy equipment, power, transport, logistics, environmental infrastructure, education, healthcare, and more. The plan, part of the “two new” policy, aims to leverage over CNY 1 trillion in total investment, with tighter vetting to accelerate modernization in key sectors.
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