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China's investment to grow faster in 2019
14 Feb 2019

 

A report from the Economic and Strategic Planning Department of the Bank of China (Hong Kong) forecast a rise of 7.3 percent in China's aggregated investment in 2019, up 1.4 percentage points from 2018.

 

Investment's contribution to the growth of China's gross domestic product will rise by 0.5 percentage points to 2.64 percentage points. In other words, about 40 percent of the year's economic growth will be generated by investment.

 

Infrastructure facilities will continue to take a large portion, but the emphasis will be put on improving weak links and consolidating the less-developed areas.

 

Last October, the State Council issued a guideline on beefing up the investment in nine kinds of infrastructure facilities including railways, highways and waterways, airports, water conservancy, energy and environmental protection as well as infrastructure conducive to agriculture and rural development.

 

Analysts with the Bank of China (Hong Kong) called for particular attention to be paid to investment in new types of infrastructure facilities such as artificial intelligence, industrial internet and the Internet of Things.

 

These new types of infrastructure facilities will lay a solid foundation for the transformation and upgrading of the manufacturing industry and inspire manufacturers to make innovations and pursue faster growth.

 

Source: Xinhua News Agency