China’s top economic planner accelerated approvals for 693.3 billion yuan ($113 billion) of infrastructure projects, China National Radio reported.
The National Development and Reform Commission approved the 21 projects, including 16 railways and five airports, between Oct. 16 and Nov. 5, the state broadcaster reported yesterday. Most of the rail projects are in the central and western regions, according to the report.
Pushing forward the start of these projects adds to efforts aimed at supporting growth in the world’s second largest economy, which have also included injections of funding for banks and loosened restrictions on home purchases. Annual expansion this year is expected to be the slowest since 1990 as a weaker manufacturing and real estate market weigh on growth.
China’s gross domestic product is likely to expand 7.4 percent this year, according to a Bloomberg survey. Expansion in the third quarter was 7.3 percent, with growth for the first nine months at 7.4 percent.
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