NDRC to fast-track investment projects in fourth quarter

The National Development and Reform Commission has announced it will speed up approval of investment projects during the fourth quarter, Reuters reported, citing spokesman Shi Zihai. Shi said the commission had already approved 237 projects worth RMB1.9 trillion (US$298.48 billion) for the January-October period. In October alone, the agency approved RMB86.4 billion worth of fixed-asset investment projects, including agricultural and water conservancy projects, infrastructure and energy projects. “The most direct and effective way to support the economy in the short term is to [increase] investment,” said Shi, adding that China’s exports still faced a severe global environment while consumption growth had been slow.