Xi wants to raise infrastructure spending

Spending on infrastructure is expected to boost growth in China. This was revealed at a meeting of the Central Committee for Financial and Economic Affairs. President Xi Jinping had stressed at the meeting that the People’s Republic must make every effort to boost infrastructure spending, Bloomberg reports. Xi had reportedly urged local authorities to improve the construction and efficiency of infrastructure networks in sectors such as transportation, energy and water conservancy. Investment is also expected to flow into regional airports, urban rail systems and oil and gas pipelines.