China has started seeking private investors for two massive ultra-high-voltage power line projects. These are the first such projects open to non-state funding after Beijing's directive last November encouraging private investments in critical infrastructure. One power line will span 1,996 km from Xinjiang in the northwest to Mianyang in Sichuan, also supplying Chongqing. Local governments of Xinjiang, Qinghai, and Chongqing invited private partners to join this project, worth 31.1 billion yuan (US$4.5 billion), alongside the State Grid Corporation of China. Meanwhile, Gansu province called for private funds for another power line from Gansu to Sichuan, with a planned investment of 24.6 billion yuan. Both lines aim to start operations by the end of 2028. According to notices, private investors will hold about 10 percent shares in each project. The projects have a 35-year operation period and expect around a 5 percent return rate. Su Jian, economics professor at Peking University, said this return is decent given current market conditions. He noted, "While opportunities can be offered to private enterprises, whether they will capitalise on them is another consideration." China's fixed-asset investment fell 3.8 percent and private investment dropped 6.4 percent year-on-year in 2025. These projects aim to open new investment channels for private firms. This shift follows a government directive for more private participation in infrastructure like railways, oil pipelines, and nuclear plants. The State Grid plans to increase fixed-asset investment by 40 percent to 4 trillion yuan from 2026 to 2030. It also seeks to boost power transmission capacity by over 30 percent across regions in five years, responding to China's surging power demand.