China to boost infrastructure investment

%3CP%20align%3Dcenter%3E%3CIMG%20border%3D0%20src%3D%22/new_maoyi_en/cn/admin/news/NewsFile/-1/20141015114552978.jpeg%22%3E%3C/P%3E%0D%0A%3CP%20align%3Dcenter%3E%3CFONT%20face%3DVerdana%3EA%20construction%20worker%20walks%20along%20a%20railway%20line%20connecting%20Guiyang%20in%20Southwest%20China%27s%20Guizhou%20Province%20and%20Guangzhou%20in%20South%20China%27s%20Guangdong%20Province.%20The%20railway%20is%20expected%20to%20start%20trial%20operation%20in%20December.%20Photo%3A%20CFP%3C/FONT%3E%3C/P%3E%0D%0A%3CP%20align%3Dcenter%3E%3CIMG%20border%3D0%20src%3D%22/new_maoyi_en/cn/admin/news/NewsFile/-1/20141015114627387.jpeg%22%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20speed%20up%20investment%20in%20major%20infrastructure%20projects%20including%20water%20conservancy%20to%20maintain%20economic%20growth%20within%20a%20reasonable%20range%20in%20the%20fourth%20quarter%2C%20the%20country%27s%20top%20economic%20planner%20said%20on%20Tuesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAs%20China%27s%20economy%20is%20under%20downward%20pressure%2C%20boosting%20consumption%20and%20quickening%20investment%20will%20be%20key%20to%20steady%20growth%20in%20the%20last%20quarter%20of%20this%20year%2C%20Li%20Pumin%2C%20spokesman%20of%20the%20National%20Development%20and%20Reform%20Commission%28NDRC%29%2C%20said%20at%20a%20press%20conference%20on%20Tuesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Economic%20growth%20will%20remain%20within%20a%20reasonable%20range%20in%20the%20fourth%20quarter%20and%20we%20are%20confident%20of%20achieving%20the%20full-year%20growth%20target%2C%22%20he%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20has%20set%20its%20growth%20target%20at%207.5%20percent%20for%202014.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELi%20noted%20that%20the%20pace%20of%20decline%20in%20investment%20will%20be%20eased%20in%20coming%20months%20as%20the%20country%20has%20initiated%20major%20investment%20projects%2C%20and%20policies%20will%20gradually%20show%20results.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20investment%20projects%20include%20construction%20of%20water%20conservancy%20facilities%2C%20revamp%20of%20shanty%20houses%20and%20development%20of%20rail%20networks%20in%20the%20central%20and%20western%20regions%2C%20he%20noted.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EFor%20this%20year%2C%20investment%20on%20water%20facilities%20is%20budgeted%20at%2076.7%20billion%20yuan%20%28%2412.5%20billion%29%2C%20an%20increase%20of%205%20billion%20yuan%20from%202013%2C%20said%20the%20NDRC.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20will%20launch%20172%20key%20water%20conservancy%20projects%20between%20this%20year%20and%202020%2C%20and%20those%20already%20under%20construction%20have%20an%20investment%20of%20around%20600%20billion%20yuan%2C%20the%20NDRC%20official%20said%20without%20giving%20the%20total%20investment%20figure%20for%20all%20172%20projects.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20government%20will%20involve%20private%20investors%20in%20some%20water%20projects%2C%20allowing%20them%20to%20join%20via%20equity%20investment%20or%20build-operate-transfer%20arrangements%2C%20and%20further%20cut%20red%20tape%20to%20boost%20investment%2C%20said%20the%20NDRC.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20rate%20of%20growth%20of%20China%27s%20fixed-assets%20investment%2C%20%22one%20of%20the%20three%20horses%20of%20the%20troika%22%2C%20dropped%203.8%20percentage%20points%20to%2016.5%20percent%20in%20the%20first%20eight-months%20of%20this%20year%2C%20compared%20to%20the%20same%20period%20of%202013%2C%20National%20Bureau%20of%20Statistics%20data%20showed.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20housing%20slowdown%20has%20driven%20the%20steady%20decline%20in%20growth%20in%20industrial%20production%20and%20fixed-assets%20investment.%20Adding%20to%20this%20is%20the%20central%20government%27s%20efforts%20to%20reduce%20overcapacity%20in%20many%20industrial%20sectors%2C%22%20Alaistair%20Chan%2C%20an%20economist%20at%20Moody%27s%20Analytics%2C%20told%20the%20Global%20Times%20in%20a%20research%20note%20on%20Tuesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EExports%2C%20another%20major%20growth%20driver%2C%20rose%2015.3%20percent%20year-on-year%20in%20September%20in%20a%20sign%20of%20rebound%2C%20while%20imports%20grew%207%20percent%2C%20both%20beating%20market%20expectations%2C%20official%20data%20showed%20on%20Monday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ECurrently%2C%20infrastructure%20investment%20gives%20policymakers%20more%20leeway%20to%20bolster%20the%20economy%2C%20compared%20with%20consumption%20and%20industrial%20production%2C%20Xu%20Hongcai%2C%20director%20of%20the%20Department%20of%20Information%20at%20the%20China%20Center%20for%20International%20Economic%20Exchanges%2C%20told%20the%20Global%20Times%20on%20Tuesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20property%20market%20slowdown%20is%20weighing%20on%20consumption%20to%20some%20extent%2C%20with%20drop%20in%20incomes%20of%20workers%20in%20the%20construction%2C%20home%20renovation%20and%20furniture%20industries%2C%20while%20industrial%20production%20is%20plagued%20by%20overcapacity%2C%20Xu%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20pace%20of%20industrial%20output%20growth%20eased%20to%206.9%20percent%20in%20August%2C%20down%202.1%20percentage%20points%20from%20July.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20economy%20grew%20at%207.4%20percent%20rate%20in%20the%20first%20half%20of%20this%20year%2C%20and%20is%20expected%20to%20grow%20by%20an%20annual%207.4%20percent%20in%202014%2C%20still%20within%20a%20reasonable%20range%20of%20the%20official%20target%2C%20according%20to%20Xu.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20projects%20launched%20by%20the%20NDRC%20will%20be%20helpful%20in%20offsetting%20a%20sliding%20trend%20in%20investment%2C%20but%20will%20not%20generate%20a%20substantial%20effect%2C%20Chen%20Long%2C%20an%20economist%20at%20Gavekal%20Dragonomics%20in%20Beijing%2C%20told%20the%20Global%20Times%20Tuesday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EAs%20property%20accounts%20for%20about%2020%20percent%20of%20the%20country%27s%20total%20fixed-assets%20investment%2C%20to%20rejuvenate%20the%20sluggish%20property%20market%2C%20the%20country%20has%20taken%20a%20raft%20of%20measures%20including%20exempting%20fees%20for%20homebuyers%20on%20borrowing%20from%20a%20public%20housing%20fund%20and%20allowing%20borrowers%20to%20use%20the%20fund%20in%20cities%20other%20than%20that%20of%20their%20residence.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20central%20bank%20also%20eased%20lending%20rules%20for%20second-home%20buyers%20on%20September%2030%20by%20granting%20a%2030%20percent%20discount%20on%20mortgage%20rates%20and%20cutting%20the%20down%20payment%20requirement%20to%2030%20percent%20from%20a%20minimum%2050%20percent%2C%20as%20long%20as%20second-home%20buyers%20have%20repaid%20their%20previous%20home%20loans.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%26nbsp%3B%3C/P%3E%3C/FONT%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%28Global%20Times%29%3C/P%3E%3C/FONT%3E