China plans to announce another batch of projects in an attempt to boost investment and stabilize economic growth, which slowed to a six-year low of 7 percent in the first quarter, the country's top economic planner said Tuesday.
Four project packages on urban rail construction, logistics, emerging industries and manufacturing will be encouraged in line with macroeconomic policies, Li Pumin, secretary general of the National Development and Reform Commission (NDRC), said during a regular news conference.
Urban rail transit projects received investments of 285.7 billion yuan ($46.05 billion) in 2014 and more will be poured into this sector this year to improve transportation, Li noted.
Since September 2014, the NDRC has announced seven project packages in sectors like electricity, information, and environmental protection. As of May, a total of 221 projects had become operational with a total investment of 3.1 trillion yuan.
The lack of funds is widely regarded as one of the major challenges for infrastructure construction. The NDRC said that they are actively promoting the public-private-partnership (PPP) model to attract private capital to support infrastructure construction.
The NDRC has launched 1,043 PPP projects, which require a total investment of 1.97 trillion yuan.
