CITIC Construction Investment: Yaxia Project officially begins construction, infrastructure investment-related companies welcome major benefits.

CITIC Securities Research Report indicated that the Yarlung Zangbo River downstream hydropower project officially started construction on July 19, 2025. The project is located in the downstream area of the Yarlung Zangbo River, with a total investment of approximately 1.2 trillion RMB, which is six times the total annual investment in Tibet. It is of great significance for driving infrastructure development in the western region, promoting clean energy construction and hydropower development. The Yarlung Zangbo River downstream project is large in scale and high in difficulty, accounting for 88.7% of China's total annual water conservancy investment in 2024. It is expected that various enterprises involved in water conservancy and hydropower construction, tunnel excavation/shielding, explosives, power equipment, ground treatment, building materials, etc. will benefit from this project.