ChinaPolicy Measures Take Effect as Multiple Leading Indicators Continue to Improve
CCTV News (Xinwen Lianbo): A number of leading indicators recently released by the State Information Center under the National Development and Reform Commission show that investment in new infrastructure, emerging industries and other fields continued to gather momentum in October, while the vitality of the consumer market was steadily unleashed.
央视网消息（新闻联播）：国家发展改革委国家信息中心最新发布的多项先行指标显示，10月份，新型基础设施、新兴产业等领域投资持续升温，消费市场活力稳步释放。
Data show that the nationwide operating rate for construction machinery rose by 0.7 percentage points year on year in October, with both year-on-year and month-on-month growth turning positive for two consecutive months, reflecting a steady acceleration in project construction. By region, large wind and solar power base projects saw a high level of construction activity in the northwest, while transport infrastructure and supporting industrial projects accelerated in the southwest, south and east.
数据显示，10月份，全国工程机械开工率同比提高0.7个百分点，连续两个月同比、环比增速转正，反映出工程项目施工节奏稳步加快。分区域来看，西北地区风光大基地项目开工热度较高；西南、华南、华东地区交通基建、产业配套等项目建设提速。
As policy support continued, major projects such as the "six networks" advanced more quickly, helping investment indicators recover somewhat while their structure continued to improve. The value of contracts awarded for new infrastructure projects related to computing power and data grew by 45.4% year on year. Capital investment in frontier fields such as artificial intelligence increased by more than threefold year on year.
政策接续发力，“六张网”等重大工程项目加快推进，带动投资指标有所回暖，结构持续优化。与算力、数据等相关的新型基础设施项目中标金额同比增长45.4%；人工智能等前沿领域资本投资金额同比增长三倍多。
The consumer market grew steadily. In October, payments for various types of offline consumption increased by 2.6% year on year.
消费市场稳步增长。10月份，各类线下消费支付金额同比增长2.6%。
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Reported events 5
Ongoing at time of reportConstructionOctober 2026+
Construction of transport infrastructure and supporting industrial projects accelerated in southwest, south and east China.
Data show that the nationwide operating rate for construction machinery rose by 0.7 percentage points year on year in October, with both year-on-year and month-on-month growth turning positive for two consecutive months, reflecting a steady acceleration in project construction. By region, large wind and solar power base projects saw a high level of construction activity in the northwest, while transport infrastructure and supporting industrial projects accelerated in the southwest, south and east.Original Chinese quote
西南、华南、华东地区交通基建、产业配套等项目建设提速Ongoing at time of reportInvestmentOctober 2026+
Major projects such as the six networks accelerated; contract values for computing- and data-related new infrastructure rose 45.4% year on year, while capital investment in artificial intelligence and other fields increased by more than threefold.
As policy support continued, major projects such as the "six networks" advanced more quickly, helping investment indicators recover somewhat while their structure continued to improve. The value of contracts awarded for new infrastructure projects related to computing power and data grew by 45.4% year on year. Capital investment in frontier fields such as artificial intelligence increased by more than threefold year on year.Original Chinese quote
与算力、数据等相关的新型基础设施项目中标金额同比增长45.4%；人工智能等前沿领域资本投资金额同比增长三倍多Ongoing at time of reportEconomyOctober 2026+
In October, the national construction machinery operating rate rose 0.7 percentage points year on year, with year-on-year and month-on-month growth positive for two consecutive months.
Data show that the nationwide operating rate for construction machinery rose by 0.7 percentage points year on year in October, with both year-on-year and month-on-month growth turning positive for two consecutive months, reflecting a steady acceleration in project construction. By region, large wind and solar power base projects saw a high level of construction activity in the northwest, while transport infrastructure and supporting industrial projects accelerated in the southwest, south and east.Original Chinese quote
全国工程机械开工率同比提高0.7个百分点，连续两个月同比、环比增速转正ReportedConsumptionOctober 2026+
Offline consumption payments rose 2.6% year on year in October.
The consumer market grew steadily. In October, payments for various types of offline consumption increased by 2.6% year on year.Original Chinese quote
10月份，各类线下消费支付金额同比增长2.6%Ongoing at time of reportConstructionOctober 2026+
Large wind and solar power base projects in northwest China saw strong construction activity.
Data show that the nationwide operating rate for construction machinery rose by 0.7 percentage points year on year in October, with both year-on-year and month-on-month growth turning positive for two consecutive months, reflecting a steady acceleration in project construction. By region, large wind and solar power base projects saw a high level of construction activity in the northwest, while transport infrastructure and supporting industrial projects accelerated in the southwest, south and east.Original Chinese quote
西北地区风光大基地项目开工热度较高