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Over 200 Projects Approved Monthly Since March

08-06 13:14 Caijing
China has quickened its pace in project approval since March amid a slowdown, accompanied by intensified easing polices by local governments.

China has quickened its pace in project approval after it opened the credit floodgates in March amid a slowdown, accompanied by intensified easing polices by local governments.

The number of projects approved by China's top economic planner, the National Development and Reform Commission, has been held steady at more than 300 for each month since March.

In the meantime, some local governments have launched new stimulus packages recently to sustain growth, a size in total that could match the spending binge during the financial crisis, the official Shanghai Securities News said, echoing the central government's repeated commitment to more fine-tunings.

In the latest comment that follows a meeting of China's top policymakers last week, the central bank pledged Sunday it would intensify its monetary policy fine-tuning in the second half of this year, and improve credit policy to bolster the real economy.

Related: China Ordered "Clear Backing" for Local Lending Vehicles to Sustain New Stimulus Packages

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