Major Projects in China Kick Off Successfully in Q1 with Robust Growth in Investments

[Major Projects Commenced Successively in Q1]

The latest tax data from the State Taxation Administration showed that in Q1 2025, a cumulative total of 39,000 engineering projects nationwide declared work-related injury insurance on a project basis, up 9.4% YoY. The total project cost amounted to 19 trillion yuan, up 4.8% YoY. Key engineering projects in China progressed smoothly overall, with a strong momentum of investment growth. In particular, after entering March, the construction of investment projects accelerated significantly. Tax data indicated that in March, 18,000 engineering projects were declared, accounting for 46.5% of the total for Q1. The total declared project cost was 0.8 trillion yuan, accounting for 43.9% of the total for Q1. In Q1, there were 182 major projects with a total project cost exceeding 1 billion yuan, up 41.8% YoY. The combined total project cost of these projects was approximately 340 billion yuan, up 39.1% YoY.