Hubei, Henan, Jiangsu, Gansu and Anhui provinces will spend 400 billion yuan (HK$491.3 billion) on infrastructure projects in the next few years, mostly on roads.
"China plans to accelerate infrastructure investment to offset the slowing economy. The country needs to spend 800 billion to 1.5 trillion yuan to get the economy back on track," said a report from investment banking group CLSA.
"The government miscalculated by how much the economy would slow down," said Francis Cheung, CLSA's managing director of China-Hong Kong strategy.
via Business feed http://www.scmp.com/business/china-business/article/1041785/mainland-provinces-plan-building-spree-counter-economic
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