China is to curb the investment from rebounding by delaying approval of some local government investment projects. From Bloomberg:
The government wants to “control investment growth that is expanding too fast in some regions,” the National Development and Reform Commission, the nation’s top planner, said on its Web site late yesterday.
China’s spending on factories, equipment and property climbed 26.7 percent in the first eight months of 2007. The government is trying to prevent the pace of growth from fanning inflation without triggering a sudden slowdown that may cost jobs and leave factories idle….[Full Text]