NDRC approves key infra projects

China's top economic regulator approved 27 fixed-asset investment projects worth 573.7 billion yuan ($79.8 billion) in the first four months.

The projects primarily focused on energy, agriculture, forestry and water conservation, as well as high technology, Li Chao, a spokesperson for the National Development and Reform Commission, China's top economic regulator, said at a news conference in Beijing on Tuesday.

In April alone, the NDRC approved eight fixed-asset investment projects worth 377.1 billion yuan, Li said.

China will update the catalog of industries where foreign investment will be encouraged, opening more sectors, including advanced manufacturing and the digital economy, Li said, adding that China has steadfastly advanced its reform and opening-up policy for more than 40 years, remaining an ideal, safe and enabling investment destination for foreign enterprises.

However, current unilateral and protectionist measures adopted by certain countries have compelled businesses to take sides and make choices that do not align with economic principles, causing significant disruptions to the normal operations of multinational companies, Li said, urging relevant countries to promptly return to the correct path of multilateralism and free trade, working together to inject certainty into global economic development.

Li said the NDRC has coordinated with relevant departments to accelerate the introduction of several measures aimed at stabilizing employment and economic development while promoting high-quality growth. Currently, relevant departments are working diligently to implement these measures, with most policies expected to be in place by the end of June.

Xinhua - China Daily