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  4. China will step up infrastructure construction to boost growth - President Xi
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China will step up infrastructure construction to boost growth - President Xi

BEIJING (Reuters) - China will step up infrastructure construction to boost domestic demand and drive economic growth going forward, state TV reported on Tuesday, citing a top...
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China will step up infrastructure construction to boost growth - President Xi © Reuters. FILE PHOTO: Construction workers stand on scaffolding in front of high voltage power lines in Shanghai September 25, 2013. REUTER/Aly Song/File Photo

BEIJING (Reuters) - China will step up infrastructure construction to boost domestic demand and drive economic growth going forward, state TV reported on Tuesday, citing a top economics meeting chaired by President Xi Jinping.

The world's second-biggest economy is at risk of a sharp slowdown as COVID-19 restrictions across a large swathe of the country hit consumer spending, the property market remains mired in a downturn and exports look set to slow further.

Investments would be brought forward for infrastructure projects that are beneficial to industrial growth and to safeguarding national security, according to the meeting, and transportation, energy and water resources would be among the focus.

The government will speed up construction of green and low carbon energy bases, improve the oil and gas pipeline networks, and build a batch of regional and cargo airports, it added.

New types of infrastructure including super computing, cloud computing, artificial intelligence platforms and broadband would be also included in the government's push, according to the meeting.

Financing needs for these projects will be met and fiscal spending would be stepped up.

Data showed that fixed-asset investment expanded by a better than expected 9.3% in the first quarter from a year earlier, helped by a move to front-load 2022 local government special bonds.

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01-05-2024 10:45:17 (UTC+7)

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157.91

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 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
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 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
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Cập nhật 01-05-2024 10:45:19
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ↀ Giá vàng thế giới
$2,285.72-47.5-2.04%
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Sản phẩmVùng 1Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
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WTI$80.83+3.390.04%
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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