SHANGHAI, China China has
accelerated approvals for infrastructure spending on 20 more
road, port and channel projects as it moves to revive its
Development and Reform Commission (NDRC), the countrys
economic planner, on Thursday announced approval of development
and feasibility studies for 13 road projects across the
country, with a total length of more than 1,243 miles.
The projects include highway
expansions in Jilin, Jiangxi and Zhejiang provinces, as well as
feasibility studies for roads in Hebei, Xinjiang, Liaoning,
Gansu and Yunnan.
The NDRC on Wednesday approved
25 rail projects valued at more than 700 billion yuan ($110
"In the short term, these
projects could boost the steel industry, but they are not good
news in the long run," a trader in Shanghai said.
"The industry needs restructuring, and it could well make
full use of the downbeat market to push forward with its
transformation, as the slack market will eliminate nonefficient
capacities. But any stimulus plan could end up spoiling that,"
a steel mill source in Jiagsu told AMM sister
publication Steel First.