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China Speeds Up New Infrastructure (part 1)
China is eyeing "new infrastructure" projects to offset the economic impact of COVID-19 and boost sustainable growth.
Rather than resorting to a massive government-led stimulus to shore up growth, China is seeking more targeted investments in projects that facilitate innovation and improve weak areas in economic and social development.
In 2019, China approved 26 infrastructure projects with a total expected investment of 981.7 billion yuan, a drop of 66.33 per cent from the 1.48 trillion yuan approved investment for the 27 infrastructure projects in 2018, according to the NDRC.
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