Expanding effective investment is a capital formation process that can bring more con-tribution and effectiveness to the economy and soci-ety through the transformation of demand,change of mode,structural transformation and power trans-formation of investment,promote the intensive con-servation and rational utilization of resources,and form new momentum and new advantages for devel-opment.At present,cyclical,structural,external,institutional and policy factors are intertwined and interacting,and the downward pressure on China's macro-investment efficiency has increased.In the next stage of expanding effective investment,the focus will shift from'hard investment'to'soft construction'that promotes comprehensive human development and improves the environment for en-terprise development;scientific and technological innovation and structural upgrading is an important way to open up a new track for development,culti-vate new kinetic energy for development,and en-hance the new competitive advantage.Institutional construction is an important way to expand capital formation,and it is necessary to create a good insti-tutional and policy environment to bring investors'behavior and decision-making onto the track of pursuing effective investment.
Investment efficiencyInvestment structureInvestment system
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