China repeats promise to increase investment, speed up reforms

Reuters
A man rows a boat on a river in front of new properties in Taiyuan
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A man rows a boat on a river in front of new properties in Taiyuan, Shanxi province, July 24, 2014. REUTERS/Stringer

BEIJING (Reuters) - China will increase investment in areas including the property sector, while authorities will advance wide-ranging economic reforms such as changing the fiscal and pricing systems, the country's powerful economic planning agency said on Monday.

The remarks from the National Development and Reform Commission were a reiteration of existing government policies.

China's economy grew slightly faster than expected in the second quarter at 7.5 percent as a burst of government stimulus paid dividends. But analysts said Beijing will likely need to offer further support to meet its growth target for 2014, especially if a downturn in the property market worsens.

(Reporting by Koh Gui Qing and Aileen Wang; Editing by Kim Coghill)

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