China has completed the issuance of 3.45 trillion yuan ($508 billion) in local government special bonds for infrastructure－part of the 2022 special bonds quota of 3.65 trillion yuan－by the end of July.

Officials from China's top economic planner, the National Development and Reform Commission (NDRC), on Tuesday vowed to further bolster investment in major infrastructure projects to help stabilize the economy amid lingering downward pressure.

The Agricultural Development Bank of China (ADBC), a rural policy bank, extended 14.9 billion yuan (about $2.21 billion) in funds as of Aug. 12 to support infrastructure.

From January to July, completed investments in water conservancy projects totaled 567.5 billion yuan (about 83.9 billion U.S. dollars), up 71.4 percent over the same period in 2021, the Ministry of Water Resources said Aug. 10.

Infrastructure investment, including green investment, will be the key driver of recovery in the second half.

Data showed that China's digital economy increased from 11 trillion yuan (1.62 trillion U.S. dollars) in 2012 to over 45 trillion yuan in 2021.

By the end of May, a total of 2.03 trillion yuan of special bonds have been issued.

More steps to spur infrastructure, manufacturing, investment coming

over 700 subsidiaries of nearly 70 central SOEs invested a total of 400 billion yuan ($59.6 billion) in new infrastructure

China's central bank will provide better financing for water conservancy projects

China's State-owned enterprises plan to invest over 10 trillion yuan ($1.49 trillion) in more than 1,300 "new infrastructure"-related projects

The country's spending accounted for 13 percent of the global total