Chinese city unveils $130bn investment package

City government officials in Changsha, the capital of central China’s Hunan province, outlined plans at a briefing Wednesday for an ambitious package of infrastructure investments totaling RMB892 billion (US$130.7 billion), The Wall Street Journal reported. The package of 195 investment projects includes an expansion of the city’s airport, construction of new roads and parks and redevelopment of older sections of the city. The city did not provide a timetable or specify how it will finance the projects, leading to speculation that the plans are little more than a “wish list.” Beijing aims to boost investment to the country’s less-developed central region as part of its plans to resuscitate China’s slowing economy. However, it is not yet clear whether Changsha will receive special support from the central government.