China's economic planner said it approved 218 fixed-asset projects worth 1.81 trillion yuan ($285.3 billion) in the first nine months of the year, as Beijing looks to drive infrastructure investment to support slowing economic growth. The highest number of approvals were in the transportation and infrastructure sector, which saw 84 projects worth 990.6 billion yuan, the National Development and Reform Commission (NDRC) said at a briefing in Beijing on Thursday.
It also gave the greenlight to 398.2 billion yuan worth of irrigation and water conservancy projects, as well as to 236.6 billion yuan of energy projects. "As these projects are developed and implemented, they can support steady investment growth, beef up development and provide strong foundations for long-term economic development," NDRC spokesman Li Pumin said.
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