China plans Rs 9450000000 project in five years, its threat to Tibet due to…, name of project is…
It is regarded as 'the largest integrated project on the Yangtze River after the Three Gorges Dam,' combining water management, shipping, and ecological functions.
China’s top economic planner has launched a megaproject to increase shipping capacity along the Three Gorges, which will run during the upcoming five-year plan. Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), submitted a report to the Standing Committee of the National People’s Congress on Wednesday and called for more investment to advance strategic initiatives. According to the official Xinhua news agency, it emphasised the need to advance major infrastructure projects, such as a new shipping channel along the Three Gorges.
Most importantly, the project approval comes at a time when China is pursuing consumption-driven and infrastructure-led growth to revive domestic demand amid growing global uncertainties, while also trying to balance its traditional dependencies.
The NDRC oversees major national projects. A report released in May described it as “the largest integrated project on the Yangtze River after the Three Gorges Dam,” combining water management, shipping, and ecological functions.
What is the cost of the dam?
The bidding for the project was announced in June, with an estimated total investment of 76.6 billion yuan (US$10.7 billion), or ₹945 crore (approximately ₹945 crore). Construction is expected to take more than eight years, including an additional 12-month preparatory phase. The program will run until the next five-year plan.
As China prepares its 15th Five-Year Plan, a major challenge will be balancing its efforts to boost consumption with its reliance on infrastructure to drive investment and development. “Given the current economic weakness, infrastructure investment will remain the government’s preferred means of boosting growth,” said Alfredo Montúfar-Helu, managing director of Greenpoint, a China advisory and consulting firm.
But he also cautioned that to ensure long-term prosperity, China needs to balance a focus on the supply side with structural reforms that boost productivity and unlock domestic demand. He added, “This will take more than five years to achieve.” Furthermore, in his Wednesday report, NDRC’s Zheng also mentioned other projects, such as the massive Hydroelectric Dam in Tibet which is set to be the world’s largest, construction of which began in July this year.
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