The recent meeting of the Political Bureau of the CPC Central Committee pointed out that we should spare no effort to expand domestic demand, play the key role of effective investment, strengthen land, energy use, environmental assessment and other guarantees, and comprehensively strengthen infrastructure construction. This shows that, in response to the current downward pressure on the economy, how to make accurate and effective investment has become the proper meaning of the question. The so-called accurate and effective investment means focusing on the key areas and weak links of economic and social development, and implementing a number of investment projects that benefit both the present and the long term in an accurate and orderly manner. Since the beginning of this year, affected by the changes in the international situation and the domestic COVID-19, China has faced the triple pressure of shrinking demand, supply shock and weakening expectations. The complexity, seriousness and uncertainty of the economic development environment have increased. Stabilizing growth, employment and prices are facing new challenges. Overall, expanding investment is still one of the important choices for China to cope with the economic situation. On the one hand, precise and effective investment emphasizes that the direction and focus of investment should be more carefully selected while expanding investment, so as to achieve the dual effect of optimizing the supply side foundation and capacity while expanding total demand. All kinds of infrastructure and basic public services are the most important public goods for economic and social development. If we have a solid foundation, we can grow and cultivate a large number of excellent enterprises and strong industrial capacity. Accurate and effective investment is to identify areas and links that are crucial to the development of productivity and lay a solid foundation for high-quality economic and social development. On the other hand, the strong domestic demand market is the "ballast stone" for China to deal with various risks and challenges. Through accurate and effective investment and targeted strengthening of spatial and network links between urban and rural areas, regions and urban agglomerations, we can create better conditions for the free flow and optimal allocation of labor, capital and other elements nationwide, which is conducive to the spread of technological progress on a larger scale and the faster flow and iteration of knowledge and information, so as to speed up the construction of a unified national market and improve the quality of the unified market, Enhance China's ability to withstand external shocks. To do a good job in accurate and effective investment, we should focus on "making up for weaknesses and strong and weak items". Although China has an excellent infrastructure system, there are still problems of incomplete functions and low quality in transportation, water conservancy, urban and rural construction, urban agglomeration and other aspects. The network effect of infrastructure has not been fully brought into play. Accurate and effective investment is to aim at these problems and strive to improve and perfect them. We should improve the level of traditional infrastructure and strengthen the support of infrastructure construction for the development and protection of land and space, the layout of productive forces and major national strategies. It is necessary to make scientific planning based on the whole life cycle, coordinate the layout of various infrastructures, and realize interconnection, joint construction and sharing, coordination and linkage. For accurate and effective investment, efforts should be made to "forge long boards and increase staying power". Digital transformation and green transformation have become the general direction of the development of human society. We should base ourselves on the long term, appropriately advance and advance the layout of all kinds of new infrastructure, and create conditions for technology diffusion and the outbreak of new industries. Further strengthen the construction of broadband, artificial intelligence, space technology and large scientific devices, improve the infrastructure that is conducive to leading industrial development and maintaining national security, strengthen the foundation of the manufacturing industry, actively promote the transformation and upgrading of energy production and consumption, and consolidate the foundation for China's long-term economic and social development and sustainable development. For accurate and effective investment, special attention should be paid to highlighting the driving effect of government investment on social capital. Compared with China's annual fixed asset investment of more than 50 trillion yuan, government investment is only a part of it. While expanding investment, we should always pay attention to expanding the multiplier effect of government investment to reduce the "crowding out effect" on social capital. Government investment should be public and basic, leaving room for the entry of social capital. We will further optimize China's state-run business environment, simplify various investment approval procedures and procedures, strengthen the protection of various factors, and create better conditions for social capital investment. (Xinhua News Agency)