BEIJING (AP) — China's government has approved construction of 25 subway projects in a new move to stimulate its slowing economy.
The communist government has given a green light to a wave of investments in public works and by state companies this year in an effort to reverse the country's worst economic slump since the 2008 global crisis.
The projects announced Thursday by the National Development and Reform Commission are budgeted at a total of 840 billion yuan ($133 billion) for 23 lines, with spending on two more undisclosed.
The projects were approved over the past two months, the commission said. They include subway lines in Shanghai, the central city of Taiyuan and the southern business center of Guangzhou.
Beijing also has approved construction of airports, highways and other public works to revive economic growth that slumped to a three-year low of 7.6 percent in the second quarter. Authorities have resisted calls for more aggressive measures after their huge spending in response to the 2008 crisis fueled inflation and a wasteful building boom.
City governments also have announced multibillion-dollar investment plans but those require approval by national planners and it is unclear how many might proceed.
National Development and Planning Commission (in Chinese): www.sdpc.gov.cn
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