China Approves 100 Key Investment Projects in May
By Esther Tanquintic-Misa | May 29, 2012 8:14 AM EST
Determined to re-ignite its apparent lackluster-bound economy, China has given the go signal for at least some 100 key investment projects in the month of May alone, the newspaper China Times reported.
According to the Beijing-based paper, China's top economic planner, the National Development and Reform Commission (NDRC), stamped its approval on more than 100 projects on May 21 alone. The projects were mostly catered in the clean energy sector.
This was still apart from the first batch of approval granted during the first 20 days in May, which almost equaled the number of the second batch, the paper added.
China is currently rushing to apply band aid solutions to bolster its growth.
It has relaxed and opened up its policies to accept private investment in sectors previously controlled or monopolized by the state government.
Believing investment in infrastructure could help boost the economy, China has pushed to expedite project launchings as well as private sector capital infusion in railways, energy conservation and environmental protection, infrastructure and educational and health care facilities in both rural and western areas.
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