A day after Modi's visit, China invests $40 billion on bolstering its rail network
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China's
The others include a 60 billion yuan railway line connecting the eastern cities of
Five of the projects were approved in January and February this year and one was approved in May, according to the NDRC.
An acceleration in project approvals coincides with a 33.2 per cent jump in fiscal spending in April, which quickened sharply from the 4.4 per cent rise seen in March, data from Ministry of Finance showed last week.
"The (April) Politburo meeting paid high attention to the severe situation, and wanted to step up policy support to stabilise growth," Wang Jun, senior economist at Beijing-based think-tank,
"Increased fiscal spending and recent monetary policy measures are likely to lead to growth stabilisation in the third quarter," he said.
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China's economic growth slowed to a six-year-low of 7 per cent in the first quarter, as demand at home and abroad faltered. Recent data showed weakness persisted into the second quarter.
Last week, Chinese policymakers ordered banks to keep lending to local government projects under construction, including affordable housing and urban subways.
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