China vows more targeted infrastructure investment

BEIJING — The Chinese government will ensure its infrastructure investment be more targeted, an official said on March 6.

He Lifeng, head of the National Development and Reform Commission, said at a press conference on the sidelines of the annual legislative session that measures are being taken to prevent investment made by all levels of governments from causing new debts or half-finished projects.

A deluge of investment with no specific target is neither necessary nor possible, he said.

Financing will support projects that are under construction or new ones that serve the overall economic and social needs, he said.