China to Move Up Investments in Key Sectors

China plans to invest in 16 projects including water treatment, AIDS prevention, chips, wireless technology and energy extraction. From The Wall Street Journal:

China will accelerate investments on key technology projects and introduce more measures to help the economy prior to an annual legislative meeting in March, state radio reported Sunday, citing comments from Premier Wen Jiabao.

The remarks are likely intended to bolster consumer and business confidence, which have fallen in recent months, by saying more help is on the way soon. The comments show the government isn’t just supporting short-term growth, but also moving the economy up the technology ladder in line with Beijing’s long-term goals of restructuring the economy.

“We will accelerate and bring forward the parts of the 600 billion yuan ($88 billion) of planned investments on 16 major projects, under our mid- and long-term development plan for science and technology, that are closely linked to the economy now,” Mr. Wen said in Sunday’s radio report.

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