Highlights

• Both the 'new infrastructure' and traditional infrastructure are important for driving economic growth and improving people's lives – but, unlike the latter, the former is intended to adapt China to the global digital transformation
• The 'new infrastructure' development has been triggered by the fourth technological revolution, which goes along with the expansion of the digital economy's scale and the shock of COVID-19
• The 'new infrastructure' focuses on China's short- and long-term development simultaneously: the short-term goal is to stabilize the economy during the pandemic period, the long-term goal is to fundamentally promote digital transformation
• More than half of Chinese firms dealing with the 'new infrastructure' are in the area of IIoT (Industrial Internet of Things); most of them have registered capital amounts from CNY 1 million to CNY 2 million
• Among the seven 'new infrastructure' areas, EHV (Extra-High Voltage power) has an enormous accumulated investment scale, with an estimated CNY 1.01 trillion in place for the next six years