Abstract
The author analyzes the new infrastructure development policy in the PRC, which implies the implementation of high-tech infrastructure projects aimed at digitalization and development of science. Similar to previous government infrastructure programs, it is intended to be a tool to stimulate economic growth. The prevalence of business investment over state funding, as well as the lower required amount of investment (less than RMB 20 trillion over 5 years) compared to traditional infrastructure, may reduce debt risks. However, relatively low utilization of new infrastructure facilities and the lack of a proven link between ICT investment and economic growth in less developed regions indicate that new infrastructure is unlikely to make the economic development of PRC regions more even.
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