China has more than doubled its pipeline of large-scale infrastructure projects, according to the South China Morning Post, indicating a future boost in infrastructure spending in the coming years.
The National Development and Reform Commission (NDRC) approved 21 new projects valued at ¥764.3 billion ($107.8 billion), surpassing the number of projects approved last year (11 valued at $52.8 billion).
The projects include a ¥141.6 billion ($19.9 billion) high-speed railway network connecting Chongqing and Kunming in southwest China, a ¥131.8 billion ($18.4 billion) airport project and a ¥113.9 billion ($16 billion) urban rail transit development.
The spending on these projects will be carried out over a number of years.
China’s investments in infrastructure has risen in recent months up to 4.5 percent as of September from 4.2 percent year-over-year in August.
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