NDRC head sees pivotal role for investment

Investment will continue to play a crucial role in driving China's slowing economy this year to offset domestic and global downturn pressures, but policymakers won't enact bold stimulus measures, the head of China's top economic planning agency said on Thursday.

Xu Shaoshi, minister of the National Development and Reform Commission, said that attracting social and private capital is crucial to China's economy this year.

The country will initiate major new projects in the year ahead, focused particularly on railway and highway projects in the middle and western regions of China; waterway transport projects; major telecommunication networks; oil and gas pipelines; clean energy; and environmental protection, Xu said at a news conference held on the sidelines of the two sessions.