Xinjiang's first infrastructure fund of 500 million yuan was put into photovoltaic storage projects, and China plans to land 300 billion yuan

On August 14, the Xinjiang Development and Reform Commission issued a message stating that in accordance with the principle of "funds follow the project". It will actively seek fund support for existing new-energy projects, effectively expand effective investment, and strive to promote the high-quality development of the new-energy industry in the autonomous region. China Development Bank Kashgar Branch invested 500 million yuan in the infrastructure fund for Xinhua Hydropower Shache County’s 200,000 kW (800,000 kWh) supporting energy storage and 800,000 kW market-based on- grid photovoltaic power generation project, which is the first new-energy fund project in Xinjiang. Infrastructure funds can effectively provide project construction capital to ensure that the project can start as soon as possible and generate physical workload.

In the next step, Xinjiang Development and Reform Commission will continue to strengthen communication and connection with China Development Bank Xinjiang Branch and Agricultural Development Bank Xinjiang Branch, speed up the issuance of funds, actively promote the timely start of construction of new energy projects that have been deployed, strive to achieve development with resources, and fully serve Xinjiang's economic stable increase.

At the executive meeting of the State Council in June this year, measures were put forward to support construction of major projects with policy-based and developmental financial tools, also measures to expand effective investment and promote employment and consumption. It is clearly stated that increasing financing support for major projects through policy and development financial tools will help to better play a guiding role, dredge the monetary policy transmission mechanism, and promote bank deposits and loans under the condition of not engaging in flooding and over-issuing money. The scale and structure should be better matched to achieve the comprehensive effect of expanding effective investment, driving employment, and promoting consumption.