BRI NEWS China's infrastructure investment reports faster growth

BRI NEWS

China's infrastructure investment reports faster growth

Xinhua

16:02, October 07, 2019

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(Photo: CGTN)

China's infrastructure investment rose 4.2 percent year-on-year in the first eight months of 2019, according to the National Bureau of Statistics (NBS).

The growth rate was 0.4 percentage points higher than the January-July period, NBS data showed.

In breakdown, investment in ecological protection and environmental treatment increased by 42.2 percent year-on-year, 7.3 percentage points higher than the same period last year.

Investment in road transportation and railway transportation went up 7.7 percent and 11 percent year-on-year, respectively, said the NBS.

During the same period, investment in the social sector, including education, culture, sports and entertainment, increased by 13.8 percent from a year ago.

Entering a period of overall acceleration

China's infrastructure construction has entered a period of overall acceleration this year. China's top economic planner, the National Development and Reform Commission (NDRC), has approved more than 30 infrastructure projects as of July this year, involving a total investment of more than 850 billion yuan (119 billion U.S. dollars) in fields like urban rail, airport expansion and coal mines, according to data provided by Securities Daily.

Liu Xiangdong, an associate researcher at the economic research department of the China Center for International Economic Exchanges, said China has increased infrastructure investment and supported local governments to use special bonds more flexibly with more focus on rail transit, ecological protection and urban pipeline network construction.

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