Implementation plans for this year’s new policy financial instruments were recently distributed to local governments; localities will submit projects under the scheme. Unlike last year, fiscal authorities will provide interest subsidies for eligible instruments. Allocation guidance emphasizes stronger support for private investment and industry projects. 2025 priority sectors include the digital economy, artificial intelligence, consumption infrastructure, transport, energy, underground utility-

Implementation plans for this year’s new policy financial instruments were recently distributed to local governments; localities will submit projects under the scheme. Unlike last year, fiscal authorities will provide interest subsidies for eligible instruments. Allocation guidance emphasizes stronger support for private investment and industry projects. 2025 priority sectors include the digital economy, artificial intelligence, consumption infrastructure, transport, energy, underground utility-network construction and urban-renewal projects.