China approves $15b in infrastructure projects

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20top%20economic%20planner%20approved%20the%20construction%20of%20eight%20infrastructure%20projects%2C%20with%20an%20estimated%20total%20investment%20of%2095.3%20billion%20yuan%20%28%2415%20billion%29%2C%20it%20announced%20Thursday.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20The%20National%20Development%20and%20Reform%20Commission%20%28NDRC%29%20authorized%20plans%20to%20build%20two%20railways%2C%20one%20in%20Xinjiang%20Uygur%20autonomous%20region%20in%20the%20northwest%20and%20the%20other%20linking%20southwest%20China%27s%20Guizhou%20Province%20and%20central%20China%27s%20Hunan%20province.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20The%20agency%20also%20approved%20plans%20to%20build%20highways%20in%20Gansu%2C%20Hebei%20and%20Jiangxi%20provinces%2C%20construct%20two%20highway%20bridges%20across%20the%20Yangtze%20River%20and%20dredge%20part%20of%20the%20Grand%20Canal%20between%20Beijing%20and%20the%20eastern%20city%20of%20Hangzhou.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20The%20most%20costly%20of%20the%20projects%20would%20be%20a%20244-km%20expressway%20in%20Northwest%20China%27s%20Gansu%20province%2C%20expected%20to%20require%2037.05%20billion%20yuan.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20Earlier%20this%20week%2C%20the%20NDRC%20said%20it%20had%20approved%20construction%20of%20four%20new%20railways%20stretching%202%2C000%20km%20in%20total%2C%20with%20total%20investment%20of%20253.3%20billion%20yuan.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20With%20its%20economy%20slowing%2C%20China%20has%20underscored%20spending%20on%20infrastructure%20as%20a%20major%20tool%20to%20shore%20up%20growth.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20The%20NDRC%20approved%20218%20projects%20in%20fixed-asset%20investment%20in%20the%20first%20nine%20months%20of%202015%2C%20with%20investment%20adding%20up%20to%201.8%20trillion%20yuan%2C%20NDRC%20secretary%20general%20Li%20Pumin%20told%20a%20press%20conference%20on%20Thursday.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20Of%20the%20total%20investment%2C%20nearly%201%20trillion%20yuan%20will%20go%20to%20transportation%20infrastructure.%20The%20rest%20will%20be%20spent%20on%20agriculture%2C%20energy%2C%20social%20programs%2C%20as%20well%20as%20high-tech%20and%20information%20technology%20industries.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20Those%20investment%20will%20not%20only%20stimulate%20growth%20but%20also%20address%20some%20weak%20links%20of%20the%20economy%20and%20lay%20a%20solid%20foundation%20for%20long-term%20development%2C%20Li%20said.%3CBR%3E%26nbsp%3B%3CBR%3E%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%26nbsp%3B%20China%27s%20fixed-asset%20investment%20increased%2010.9%20percent%20year%20on%20year%20in%20the%20first%20eight%20months%2C%20while%20investment%20in%20infrastructure%20jumped%2018.4%20percent%2C%20official%20data%20showed.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28China%20Daily%29%3CBR%3E%3C/FONT%3E%3C/P%3E