BUSINESS China's infrastructure construction accelerates this year

BUSINESS

China's infrastructure construction accelerates this year

China Daily

05:27, July 05, 2019

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Workers begin laying rails for the expected railway line connecting Beijing and Hebei province's Xiongan New Area. (Photo: Xinhua)

China's infrastructure construction has entered a period of overall acceleration this year, Securities Daily reported Thursday.

China's top economic planner, the National Development and Reform Commission (NDRC), has approved more than 30 infrastructure projects so far this year, involving a total investment of more than 850 billion yuan ($123.91 billion) in fields like urban rail, airport expansion and coal mines, according to data provided by the newspaper.

Ma Qiang, deputy director of the basic industries department of the NDRC, was quoted by the newspaper as saying there are still weaknesses in China's transportation infrastructure, and thus there is much room for development, which is the key area to promote effective investment.

Liu Xiangdong, an associate researcher at the economic research department of the China Center for International Economic Exchanges, was also quoted by the newspaper as saying that in order to further stabilize investment, 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.

Liu said with the acceleration of approval in the first half year and the allocation of funds in place, the construction of infrastructure will be greatly strengthened in the second half year.

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