On April 20, the National Development and Reform Commission issued the second batch of 2026 “Two Priorities” (major projects and key livelihood projects) construction list, allocating 216.8 billion yuan in ultra-long-term special treasury bonds to support 336 major projects. Combined with the 389.7 billion yuan issued earlier, total funding for “Two Priorities” projects this year reached 606.5 billion yuan, accounting for 76% of the annual 800 billion yuan target, with a significantly faster issuance pace than last year.

This project list focuses on key areas including artificial intelligence, urban underground pipe network renovation, transportation infrastructure in the Yangtze River Economic Belt, high-standard farmland, higher education upgrading, and the Three-North Shelter Forest Program. Project implementation will effectively expand effective investment, drive the development of related industries, and provide strong support for economic growth.

Notably, investment in AI projects accounts for a significantly increased share, highlighting national emphasis on technological self-reliance and digital economic development. Industry insiders said that as a key tool for stabilizing growth, accelerated funding for “Two Priorities” construction will effectively boost fixed-asset investment growth. In terms of investment direction, policies focus on technological innovation, infrastructure shortcomings, and green development, with related industrial chains expected to keep benefiting. With accelerated funding landing, fixed-asset investment growth is expected to rebound in the second quarter, becoming an important driver of economic growth.