China Accelerates Infrastructure Projects To Lift Investment -Yicai

China is accelerating the start of new infrastructure projects, with the growth in infrastructure investment expected to reach about 12% this year, Yicai.com reported citing Wang Qing, chief macro analyst with Golden Credit Rating. He estimates it could lift annual GDP by 1.2 percentage points. Project-backed new special bonds issued by local governments have risen to a record high above CNY4 trillion yuan this year, and over 60% of them have been invested in infrastructure projects, the newspaper said. The government also introduced policy bank-backed financial instrument totaling CNY739.9 billion, and all these funds have been allocated to projects. The National Development and Reform Commission urged all these projects to be started by the end of November, the newspaper said.