The first infrastructure plays a particularly prominent role in the macro-economy: under the disturbance of local epidemic situation, the pressure of economic growth has increased significantly this year. In the first quarter of 2022, GDP increased by 4.8% year-on-year, slightly weaker than the growth rate of 4.9% in the third quarter of 2002/kloc-0. Judging from the current situation, the pressure of economic growth in the second quarter has not diminished. In order to achieve the annual target growth rate, the counter-cyclical adjustment is bound to increase. Two, "promising": the five-year plan has entered the year of concentrated construction, and the project reserves are abundant:

1. From the horizontal comparison, there is still a big gap between China's per capita capital stock and developed countries. From the horizontal international comparison, China's per capita capital stock is still far behind developed countries, and there are still many shortcomings in power, railways and public services. It is in the window of deepening capital and accelerating to catch up with developed countries, and it is necessary to continue to expand effective investment.

2. The five-year plan has entered the year of concentrated construction, and the project reserves are abundant. As of the beginning of April, * * * 26 provinces and cities have disclosed the construction plans of major projects in 2022. Among them, * * * has 3 1467 major projects, and * * involves an annual investment of about1/kloc-0.7 trillion yuan, an increase of nearly 8% compared with 20021,indicating that the project reserves are abundant. The completion rate of investment plans for key projects is high, and local epidemic relief will bring better landing conditions for reserve projects.

4. The existing statistics of financial sources underestimate the contribution of financial funds to infrastructure construction. According to the statistics of sources of funds, self-raised funds are the most important source of capital construction. It can be seen from the historical sources of funds in the three major infrastructure industries announced by the National Bureau of Statistics that the proportion of self-raised funds in infrastructure funds ranges from 40% to 60%, and it shows a preliminary downward trend after 20 15; The proportion of budget funds is rising, and it has surpassed domestic loans to become the second largest source of funds in 20 17, with a total proportion of 16. 1%.

4. The sources of funds for special debt projects are composed, and the proportion of special debt funds is relatively high. If we observe the special debt project, the proportion of special debt funds in the project exceeds 40%, and a large part of the funds in the project come from government funds, then the proportion of financial funds in the project is even higher.