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BEIJING, May 22-- China has pledged fresh efforts in advancing the construction of new infrastructure projects in a bid to further stimulate new consumption demand and boost industrial upgrading. The country plans to issue 3.75 trillion yuan (about 529 billion U.S. dollars) of special local government bonds this year, up 1.6 trillion yuan from the previous year, with priority given to new infrastructure, new urbanization initiatives and major projects, according to a government work report submitted to the national legislature for deliberation on Friday. In terms of new infrastructure, China will develop next-generation information networks and expand 5G applications, said the report. Also, more charging facilities will be built to promote wider use of new energy vehicles. Rather than resorting to a massive government-led stimulus to shore up growth, China is seeking more targeted investments in projects that facilitate innovation and improve weak areas in economic and social development. The prioritized efforts are expected to not only boost consumption and benefit the people, but also facilitate structural adjustments and enhance the sustainability of growth, according to the report. Take 5G as an example. China's investment in 5G network construction will reach 1.2 trillion yuan in aggregate by 2025, and is expected to leverage about 3.5 trillion yuan of investment in the upstream and downstream of the industrial chain as well as in other areas, according to the China Academy of Information and Communications Technology. | 
