China Puts 300 Infrastructure Projects on Fast Track, To Continue Growth Momentum

PRESS RELEASE

China Puts 300 Infrastructure Projects on Fast Track, To Continue Growth Momentum

Jan. 6, 2015 (EIRNS)—The government of China has put 300 infrastructure projects on a fast-track basis, according to government source reports to Bloomberg News, which today filed a story, "China Fast-Tracks $1 Trillion in Projects to Spur Growth." The news agency wrote, "Premier Li Keqiang’s government approved the projects as part of a broader 400-venture, 10 trillion yuan plan to run from late 2014 through 2016, said people familiar with the matter who asked not to be identified as the decision wasn’t public." Bloomberg states that the projects will be overseen by the National Development and Reform Commission.

The Bloomberg review identifies seven areas of infrastructure projects: "oil and gas pipelines, health, clean energy, transportation and mining," citing statements in December by Li Pumin, the spokesman for NDRC, on where China would be encouraging infrastructure investment. Funding for the projects, said Bloomberg, will be from "central and local governments, state-owned firms, loans and the private sector."