Faster approval of major projects shoring up growth
By Wang Yanfei | China Daily | Updated: 2018-12-18 07:33
The nation's top economic regulator has quickened the pace of fixed-asset investment project approvals in a move to ease downside risks to the economy.
In the third quarter, 147 such projects valued at 697.7 billion yuan ($101.1 billion) were approved by the National Development and Reform Commission, which is 4.8 times more in terms of value than that seen in the second quarter, the NDRC said.
Compared with the first half, during which the central government placed a higher emphasis on high-tech projects, the key focus shifted toward transportation sector projects in the second half, the commission said.
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