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MNI (Singapore)
BEIJING (MNI)

China still has potential to expand effective investment to boost economic growth given its development stage, and the investment outlook is optimistic, said Ning Jizhe, director of the National Bureau of Statistics at a briefing on Monday.

Investment had dragged down overall economic growth by 0.5% in Q4, bringing the Q4 GDP to a one-and-a-half-year low of 4.0%., see: MNI BRIEF: China Q4 GDP Further Slows To 4%, 2021 GDP At 8.1%.

Ning said investment prospects are promising amid increased fiscal and monetary support. There were 36,767 new projects started in December, and more major projects will be kicked off at the beginning of 2022, Ning added.

China’s per capita infrastructure capital is only 20-30% of that of developed countries, and the per capita investment in public facilities of farmers is only about one-fifth of that of citizens, said Ning, noting further investment is needed to fill the development gap.

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