China approves $157 bln infrastructure spending

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DONTCRYFORME

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China approves $157 bln infrastructure spending

posted on Sep 07, 2012 01:49PM

This $157 billion of infrastructure spending concerns real investment, not filling fiscal holes. This is going to create a real demand for raw materials and is going to be a real boost for the world economy. Why doesn't the US spend a few trillion dollars in infrastructure? It might be hard needed and create some real jobs and GDP growth, if done honestly and properly (no porc). DCFM

China approves $157 bln infrastructure spending

Jim, Monty, plus a few others saw it coming.

If you have eyes to see, coordinated central bank monetary and fiscal stimulation action is taking place.

Headline: China approves $157 bln infrastructure spending

By Pete Sweeney and Langi Chiang

SHANGHAI/BEIJING (Reuters) - China has given the green light for 60 infrastructure projects worth more than $150 billion as it looks to energise an economy mired in its worst slowdown in three years, fuelling hopes the world's growth engine may get a lift from the fourth quarter.

Shares and steel futures jumped on the plans to build highways, ports and airport runways, among the most ambitious unveiled in China this year, which analysts say signalled growing intent to bolster economic growth as the country's once-a-decade leadership change looms.

China's powerful economic planning body, the National Development and Reform Commission, announced approvals for projects that analysts estimate total more than 1 trillion yuan, roughly a quarter of the total size of the massive stimulus package unleashed in response to the global financial crisis.

The announcement comes just before a deluge of economic data due on Sunday that could confirm investors' worst fears that a downswing in the world's second-biggest economy has stretched into a seventh straight quarter.