The National Development and Reform Commission clarified the concept of the new infrastructure recently, which generally includes three categories: information-based infrastructure; converged infrastructure supported by new technologies like big data and artificial intelligence; and innovative infrastructures that support scientific research and product development.
Though new infrastructure projects may not directly or quickly drive the GDP, they will boost innovation and accelerate the transformation of the Chinese economy by:
1. Focusing on technological innovation, involving 5G base stations, industrial internet, etc.
2. Helping in the urbanization, involving intercity high-speed rail, smart city programs, etc.
3. Making life better with projects improving medical services, installing car charging piles, etc.
