On February 17, China Times published an article discussing China’s investments to stimulate the economy. According to the statistics that each province has released, the total investment to stimulate the economy in 2017 amounts to more than 40 trillion yuan (US$5.82 trillion). Twenty-three provinces so far have announced their 2017 fixed asset investment targets. Taking into account the provinces that have yet not published their data, the total investment in fixed assets this year will be at least 45 trillion yuan (US$6.54 trillion).
In addition to the large provincial budget targeted for infrastructure investment, the National Development and Reform Commission (NDRC) also announced the latest progress on major investment projects. On February 15, NDRC spokesman Zhao Chenxin said at a press conference that in January, NDRC approved 18 fixed asset investment projects with a total investment of 153.9 billion yuan (US$22.38 billion). These projects are concentrated mainly in water conservancy, transportation, and energy fields.
Beijing Fushengde Economic Consulting Firm Chief, Economist Feng Delin, told the China Times reporter, “These investments are mainly to cope with the economic slowdown.”
Source: China Times, February 17, 2017