China NDRC outlines private investment and Beidou industry goals

The National Development and Reform Commission (NDRC) held a press conference to discuss economic priorities, focusing on private capital participation, the expansion of the Beidou satellite industry, and preparedness for El Niño.

To encourage private investment, the NDRC is promoting participation in key sectors such as transportation, logistics, water conservancy, and energy. The commission recently introduced 36 projects with an estimated total investment of 61.4 billion yuan, aiming to attract 15.6 billion yuan in private capital. In the first half of the year, private investment in water network construction rose by 85.8% year-on-year.

Regarding the Beidou industry, the NDRC aims to grow the sector's total output value to over 1 trillion yuan within the next five years. Strategies include advancing core technologies like high-end chips and algorithms, implementing the Satellite Navigation Regulations, and deepening international cooperation.

Addressing the potential impact of a strong El Niño event on food security, the NDRC stated that China is prepared through high-standard farmland construction and increased mechanization. Future measures include enhanced disaster monitoring, improving irrigation and drainage infrastructure, and advancing seed technology to mitigate climate risks.