Letzte Aktualisierung: August 15, 2022

5G networks and Big Data instead of roads and rails

Like here in Gonghe, Qinghai Province, hundreds of new photovoltaic plants are being built across the country. They are part of a program to support the ailing economy.
Rising infrastructure spending is supposed to help China's weak growth get back on its feet. However, unlike the situation after the financial crisis in 2008, money is not being poured into roads, railways and airports, but into new power grids, cloud computing, 5G and Big Data.
"If you want to get rich, you must first build a road." The old Chinese saying seems to have become obsolete, as is apparent from Beijing's new infrastructure plans. In the second half of the year, the government wants to boost the economy, which has been slowed down by harsh Covid measures. The economy grew by just 0.4 percent in the second quarter. The leadership does not plan to settle for that again. More than ¥1 trillion (about €145 billion) of additional funds will be provided as a result.
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