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| China to Invest Heavily in Bottleneck Industries |
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A think-tank of the National Development and Reform Commission (NDRC) predicts China would invest at least 12 trillion yuan (US$1.5 trillion) in energy and transport sectors in the coming five years. The NDRC's macro-economic research institute said in an investment outlook report that the massive investment would ease the "bottleneck" pressure for the economy. The NDRC is China's top economic planning agency. More than 6.5 trillion yuan would be invested in transport development including road and railway construction, it said. Investment in the equipment industry, high-tech enterprises and agriculture would also grow rapidly. According to the report, annual investment in the coal industry would reach 60 billion to 70 billion yuan in the next five years. Oil industry investment is foreseen to reach 40 billion to 50 billion yuan a year, while that for the natural gas sector, 20 billion to 30 billion yuan. The report said 500 billion to 600 billion yuan would be used to expand electricity production, and another 500 billion to 600 billion yuan would be poured into the country's power grids. (Xinhua News Agency January 11, 2006) |
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