Courtesy of Also Spracht Analyst
With more and more signs of a worse-than-expected slowdown of the Chinese economy piling up, the government is surely worried. So, after Wen Jiabao’s comments about supporting growth becoming a higher priority, here comes some “good news”.
The China Securities Journal is reporting that various departments are being asked to submit their full-year infrastructure plans by the end of June because approvals will be speeding up. Some of the projects which were intended to be started in the second half of the year are being brought forward to the first half in hope of offsetting the effects of slowing fixed asset investment, particularly on real estate.
Sources told the Journal that the approval processes for large infrastructure construction projects have been sped up since the end of February. Sources would not rule out that authorities could be asking for submission of investment plans for 2013 and bringing them forward to the second half of this year.