China’s infrastructure investment growth may reach about 10% y/y in 2022 with sufficient supporting funds and projects, higher than the previous expectation of 7% and last year’s 0.4% gain and drive GDP growth by around 1 percentage point, the Securities Daily reported citing Wang Qing, chief analyst at Golden Credit Rating. The newly announced CNY300 billion financial bonds to be raised by policy banks for major projects will help to accelerate the launch of major water conservancy and transportation projects in the second half of this year, the newspaper said citing analysts. By end-May, a total of CNY310.8 billion was invested in water projects, though the country plans to complete over CNY800 billion of projects throughout the year, the newspaper said.
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