China Delays $119 Billion Investment Program by at Least 1 Month

2 articles · Updated · Bloomberg · Aug 24

800 billion yuan in policy-backed financing announced nearly six months ago has still not been deployed, with local governments only recently invited to submit project pitches.
Caitong Securities said the delay means the money will take at least another month to reach projects, potentially weakening support as China’s growth slows and investment remains soft.
The New Policy-Backed Financing Instruments were designed to shore up 2026 investment by channeling funds into approved projects through local administrations.
The program was later detailed as covering 1,459 projects, alongside a 1.5% interest subsidy and a 500 billion yuan private-investment guarantee, underscoring pressure on Beijing to speed execution in the third quarter.