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China mulls new projects to boost investment

Enlarge Font Size  Decrease Font Size Date: 2015-04-28  View: 52
 BEIJING - The economic planner is likely to announce a batch of projects to help stabilizegrowth and boost investmentan official said on Friday.

New projects will be in line with macro-economic policiessaid Luo Guosandeputy director ofthe Department of Fixed Asset Investment under the National Development and ReformCommission (NDRC).

Since September last yearthe NDRC has approved seven project packages on information,electricityoil and gas networkenvironmental protection and clean energyhe said.

Overall investment has been falling remarkablybut investment in infrastructure has beenrising quicklyhe said.

National fixed asset investment only expanded 13.5 percent in the first quarter (Q1) year onyear, 4.1 percentage points lower than in Q1 2014, he said.

Howeverinvestment in infrastructure grew 23.1 percent in Q1, up 0.6 percentage point yearon yearOf the totalinvestment in road and waterways grew 15.2 percent year on yearup3.8 percentage points from Q1 2014, Luo said.

Land supply for infrastructure picked up 0.6 percent in Q1 year on yearwhile supply forindustrial warehouses and property development dropped 26.1 percent and 38.7 percent,respectivelyindicating government investment had acceleratedLuo said.

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