Constructors work at the construction site of a highway in Wuhan, central China's Hubei Province, Oct. 6, 2025. Many workers have been standing fast at their posts and fulfilling their duties during the eight-day National Day and Mid-Autumn Festival holiday. (Xinhua/Xiao Yijiu)

 
China has allocated an additional 200 billion yuan ($28.13 billion) in special bond quotas specifically to support investment and construction in selected provinces, the National Development and Reform Commission (NDRC), the country's top economic regulator, said on Friday.

At a news conference, NDRC spokesperson Li Chao said that 500 billion yuan from within the local government debt limit has been allocated to bolster local fiscal capacity and expand effective investment.

Within this allocation, 200 billion yuan in new special bond quotas has been designated to support investment and construction in specific provinces. 

The NDRC will supervise and guide the relevant provinces in effectively utilizing these additional quotas, accelerating the issuance and use of special bonds, expediting project construction, and swiftly generating tangible physical workloads, Li added. 

Regarding the current economic situation, Li noted that China has withstood pressure and maintained stable growth, with progress seen in the first three quarters.

China's GDP grew 5.2 percent year-on-year in the first three quarters of 2025, data from the National Bureau of Statistics (NBS) showed on October 20.

Since the beginning of the year, China's economic development has withstood pressure and achieved hard-won, remarkable progress, said a spokesperson with the NBS, adding that there has been stable performance and steady growth.

Li stated that the performance in the first three quarters has laid a solid foundation for successfully achieving the annual targets and tasks. 

Several international economic organizations have successively raised their growth forecasts for China's economy. For instance, both the IMF and the World Bank, in their latest projections in October, significantly raised their 2025 growth forecasts for China by 0.8 percentage points compared to their April projections, according to Li.

In the next step, the NDRC will work with relevant departments to strengthen routine policy research and development, as well as promptly introducing new policies as needed. 

With the continuous and effective implementation of various policies, there is confidence that the annual economic and social development goals and tasks can be achieved, Li said.

Global Times