Central Government Rolls Out ‘Two Priorities, Six Networks’ Plan with Over 7 Trillion Yuan in 2026
China is accelerating major infrastructure construction under the ‘two priorities’ and ‘six networks’ plan, with 2026 investment estimated to exceed 7 trillion yuan. The Three Gorges New Waterway started construction in June, marking a landmark project. In the first half, internet services investment rose 39.9%, water transport 19.8%, power supply 19.4%, and air transport 11%, while private capital in water network projects surged 85.8%. Full-year ultra-long bonds of 800 billion yuan have been allocated, and projects are entering the peak construction season to translate policy into tangible progress.
Midway through the year, a batch of major infrastructure projects that build foundations, serve long-term interests and improve people’s livelihoods are advancing steadily. A recently held meeting of the Political Bureau of the Central Committee made comprehensive arrangements for economic work in the second half of the year, stressing vigorous promotion of the “two priorities” construction and “two new” initiatives, and solidly advancing the planning and construction of the “six networks”. Under coordinated policies, a number of major projects are accelerating into physical progress.
On June 8, the Three Gorges New Waterway officially broke ground, kicking off the first major national landmark project of the “15th Five-Year Plan” period. This is another significant infrastructure project of global importance on the Yangtze River, following the Three Gorges Project. The outline of the “15th Five-Year Plan” states that infrastructure must be moderately advanced but not excessively so, with strengthened integrated planning, optimized layout and structure, promoted integration and convergence, and enhanced safety resilience and operational sustainability.
Since the start of 2026, construction under the “two priorities” has advanced solidly, and the modern infrastructure system represented by the “six networks” has been rolled out at a faster pace, continuously improving the infrastructure network. A group of major projects focusing on weaknesses in areas such as water networks, logistics and new energy systems have seen their construction progress refreshed. In the first half of the year, infrastructure investment in key sectors drove relatively rapid growth in related fields. Investment in internet and related services surged 39.9% year on year, water transport investment rose 19.8%, electricity supply investment increased 19.4%, and air transport investment grew 11.0%. Water network construction attracted private capital exceeding 10.8 billion yuan, up 85.8%. According to relevant agency estimates, during the “15th Five-Year Plan” period, computing power network construction will generate new direct investment of 4 trillion yuan.
At the core node of the National Supercomputing Internet in Zhengzhou, Henan Province, 60,000 domestically produced AI chips are running at high speed, dispatching massive data across thousands of kilometers to complete regional scheduling. As the “East Data, West Computing” project deepens, computing demand in the east and resource endowments in central and western regions are being matched more rapidly, forming a pattern of complementary advantages, efficient coordination and digital productive forces.
Previously, China’s infrastructure in transportation, energy, water conservancy, information, urban and environmental sectors was generally planned and built independently. Entering the stage of high-quality development, infrastructure construction has leaped from individual projects and single-point deployment to systematic planning and overall synergy. According to preliminary estimates, investment in the “six networks” and related key areas in 2026 will exceed 7 trillion yuan, covering both traditional and new infrastructure.
In terms of implementation, the “six networks” are deeply coupled and mutually empowering. The National Development and Reform Commission is working with relevant departments and local governments to accelerate the construction of the “six networks” according to local conditions, turning the blueprint into concrete projects. On one hand, integrated coordination is emphasized, with multiple networks promoted in a coordinated manner and a national chessboard approach to layout. Computing power network construction requires strengthened overall planning and orderly development, with a focus on matching supply and demand and coordinating computing with electricity. On the other hand, efficient utilization and solving practical problems are prioritized. During the “15th Five-Year Plan” period, investment in new-type power grids is planned to exceed 5 trillion yuan, and through innovations in grid architecture, power transmission and storage technologies, and power supply services, it will meet electricity demand and new energy consumption needs, while enhancing resilience against natural disasters and rapid recovery capability. For the logistics network, the ratio of total social logistics costs to GDP will be further lowered, supporting the efficient flow of goods and resources across society.
The third batch of “two priorities” construction projects in 2026 has been officially issued, and the full-year allocation of 800 billion yuan in ultra-long special government bonds together with project lists has all been issued. A number of major infrastructure projects are entering the peak construction season. The National Development and Reform Commission will accelerate the implementation of policies to expand effective investment, coordinate the “two priorities” construction, seize the peak construction season in the third quarter, speed up the allocation and use of 800 billion yuan in new policy financial instruments, and expedite the issuance and use of special bonds.
Major infrastructure construction balances current and long-term needs, involving both hard investment and soft development. Using project construction as an opportunity, rules and institutional mechanisms will be strengthened to break through bottlenecks in hardware connectivity, standards alignment, information sharing and market access, enhancing continuous operational service capability. By resolving computing, power and data synergy issues across different regions and fields, resource waste will be reduced and operational efficiency improved. By solving the connectivity problems of hardware facilities and standards across different transport modes and vehicles, logistics costs will be lowered and logistics efficiency raised. In addition, governance of the “six networks” will emphasize monitoring and scheduling, and through artificial intelligence and information-sharing reforms, overall governance effectiveness will be enhanced.
Why this event matters
The event has a measured impact on 6 industrys. The strongest current signal is positive for Power Transmission Networks, with intensity 88/100 and 85% confidence over a medium term horizon.
Power Transmission Networks
- Direction
- positive
- Intensity
- 88
- Confidence
- 85%
- Horizon
- Medium term
Power Equipment
- Direction
- positive
- Intensity
- 80
- Confidence
- 80%
- Horizon
- Medium term
Artificial Intelligence
- Direction
- positive
- Intensity
- 82
- Confidence
- 78%
- Horizon
- Medium term
Shipping & Ports
- Direction
- positive
- Intensity
- 78
- Confidence
- 82%
- Horizon
- Medium term
Logistics & Express Delivery
- Direction
- positive
- Intensity
- 76
- Confidence
- 80%
- Horizon
- Medium term
Cloud Services & Data Centres
- Direction
- positive
- Intensity
- 75
- Confidence
- 75%
- Horizon
- Medium term
Impact figures are analytical estimates that combine direction, intensity, confidence and event importance. They are not investment advice.