Transport Ministry to increase infrastructure spending

China’s Transport Ministry will boost spending on infrastructure by a further US$292.9 billion over the next three to five years, the South China Morning Post reported. The ministry now plans to spend about US$732.25 billion on roads, waterways and ports as part of efforts to boost growth during an economic downturn. An additional US$292.9 billion has been budgeted for railway construction. Analysts say the additional spending is meant to compensate for slower investment in infrastructure by the private sector and local governments. However, there is some doubt as to whether additional state-led fixed-asset investment will be sufficient to avert a slowdown.