China’s Premier Li Keqiang pledged to speed up construction of railways and housing for the poor this year to prop up flagging growth and reassure domestic and international investors that Beijing will not allow the economy to slow too much.
With growth in the world’s second-largest economy continuing to slow, Mr Li has set a target of “about 7.5 per cent” expansion this year, a goal he is unlikely to achieve without further stimulus in the coming months.
At a regular meeting of the State Council, China’s cabinet, on Wednesday evening, Mr Li said the government would accelerate construction of railways in the central and western parts of the country.
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