With more and more signs of worse-than-expected slowdown of the Chinese economy piling up, the government is surely worried. So after Wen Jiabao said supporting growth is becoming a higher priority, here comes some “good news”.
The Chins Security Journal is reporting that various departments are being asked to submit the full-year infrastructure plans by the end of June, as the approval will be speeding up. Some of the projects which were intended to be started in the second half of the year are being brought forward to the first half in hope to offset the effect of slowing fixed asset investment, particularly on the real estate side.
Sources told the Journal that the approval processes for large infrastructure construction projects have apparently been sped up since the end of February. Sources would not rule out that the authorities could be asking for submission of investment plans for 2013 and bringing them forward to the second half of this year.
This article originally appeared here: China to bring future investment plans forward to stimulate economy
Also sprach Analyst – World & China Economy, Global Finance, Real Estate
Read more posts on Also Sprach Analyst »
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.