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China to accelerate transport investment

  • Author:Harold
  • Source:www.diecastingpartsupplier.com
  • Release on:2015-05-29

CHONGQING - Vice-Premier Zhang Gaoli said Wednesday that China will speed up major transport projects in hope of stabilizing economic growth.

The government will boost the development of railways, highways, waterways, airways and underground pipelines along the Yangtze River to build "a three-dimensional transport corridor."

The Yangtze runs west to east over 6,300 kilometers and is the longest river in Asia and the third longest in the world. It flows through 11 provinces and municipalities, and joins less developed inland provinces to prosperous Shanghai.

The construction of the "corridor" is part of the Yangtze River Economic Belt to enhance economic cooperation and integration among the regions along the river. The combined GDP of the 11 provinces and municipalities along the river amounted to 2.6 trillion yuan ($415 billion) last year, 41.2 percent of the national total.

"We will accelerate the construction of major transport projects and let investment stabilize economic growth," said the vice-premier, who also stressed the significance of environmental protection during the process.

China's GDP grew 7.4 percent in 2014, the weakest annual expansion in 24 years. Its growth outperformed market expectation posting 7 percent in the first quarter, in line with the annual target set for the whole of 2015.

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