China starts to build and swears to finish $167 bn. mega Tibet Brahmaputra river dam: to manipulate India

An aerial drone photo taken on July 2 shows ships passing through the dual-channel five-tier ship locks of the Three Gorges Dam in Yichang city, central China’s Hubei province. Photo: Xinhua
by Sylvia Ma

China’s top economic planner has flagged a megaproject to expand shipping capacity on the Three Gorges, slated to span the coming five-year plan, while also calling for greater investment to drive strategic initiatives.

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In a report submitted to the Standing Committee of the National People’s Congress on Wednesday, Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), underscored the need to push major infrastructure projects such as the new shipping channel on the Three Gorges, state news agency Xinhua reported.

The project would ease traffic at the Three Gorges-Gezhouba hub – a strategic link in the Yangtze Economic Belt – by building a new double-line, five-stage lock system and increasing Gezhouba’s shipping capacity, according to the NDRC and bidding documents.

China begins construction of $167 billion mega dam over Brahmaputra in Tibet  - India Today
The nod to the project came as Beijing weighs the trade-off between boosting consumption and its traditional reliance on infrastructure-led growth, as it seeks to revive domestic demand amid rising global uncertainties.

A May report by the NDRC, which oversees and approves major national projects, described it as “the biggest integrated project on the Yangtze River since the Three Gorges Dam, combining water management, navigation and ecological functions.”

A June bidding announcement estimated the total investment at about 76.6 billion yuan (US$10.7 billion), with a construction period of more than eight years plus an additional 12-month preparatory phase. The schedule would run through the next five-year plan.

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The idea for the project was mentioned in the 13th five-year plan while the 14th highlighted the need to “alleviate bottlenecks on the Three Gorges hub”.

As Beijing prepares its 15th five-year plan, a central challenge will be reconciling the push to boost consumption with its entrenched reliance on infrastructure projects to drive investment and growth.

“Given the current backdrop of economic weakness, stimulus-driven investment in infrastructure is likely to remain a preferred tool for the government to support growth,” said Alfredo Montufar-Helu, a Beijing-based senior China adviser and managing director at advisory firm GreenPoint.

China started building a major dam on the #BrahmaputraRiver in southeastern  #Tibet near border with #India. The project was approved by #Beijing in  December and is being linked to China's carbon neutrality

But he also cautioned that “what China needs to ensure long-term prosperity” is to balance this supply-side focus with structural reforms that raise productivity and unlock the potential of domestic demand. “Achieving this will take more than five years,” he said.

In his Wednesday report, the NDRC’s Zheng also mentioned other major infrastructure projects such as the mega hydropower dam in Tibet – set to become the world’s largest – where construction began in July.

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He also called for the full roll-out of targeted initiatives to boost consumption, including easing restrictions, expanding spending on services, implementing child subsidies and placing greater emphasis on “investing in people”.

He noted that China’s development environment had become “increasingly complex, severe, and uncertain” due to external shocks and internal risks, while noting that “positive factors are continuously accumulating”.

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Authorities must “better coordinate domestic economic tasks with international trade challenges” in the second half of the year to stabilise the economy and meet annual growth targets, he said.

Source :

SCMP

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