China plans to invest more than $900 billion into high-tech research and infrastructure development

Almaty. April 7. Silkroadnews - China will invest more in the country’s high-tech research and development, as well as infrastructure development, including railway, fixed assets, water conservancy projects, China Daily reported.

“Total investment is estimated to exceed 6 trillion yuan ($926.6 billion) this year, half of which will be special funds targeting projects such as transportation, environment protection, urban planning, and tourism”, the publication states.

It also said in January-February this year the National Development and Reform Commission approved 36 fixed-asset projects with investments totaled to 88.2 billion yuan.

Other funds may go to projects including railway and water conservancy construction, high technology research and development, western development, and so on.

According to Sheng Guangzu, general manager of China Railway Corp, the country’s railway service provider, the investment volume into the railway construction this year can exceed 800 billion yuan.

Another 800 billion yuan or more will be invested into major water conservancy projects.

In 2015, against the background of restructuring, the country’s economic growth fell to its 25-year low of 6.9 percent, the experts forecast further slowdown this year.