China expects steady investment growth in Q1: official

Investment in China is expected to maintain stable expansion in the first quarter of the year despite COVID-19 disruptions, an official with the country's top economic planner said Friday.

The number of newly started projects has increased significantly from the same period last year, which will provide strong support for investment growth, Ou Hong, an official with the National Development and Reform Commission, told a press conference.

Large-scale local government special bonds available this year will play an important role in promoting investment growth, Ou said.

In the fourth quarter of 2021, such bonds worth 1.2 trillion yuan ($187.81 billion) were issued, while another 3.65 trillion yuan of the bonds will be offered this year.

Ou also noted multiple areas with great potential for investment, such as strengthening weak links of infrastructure as well as promoting the development of low-carbon projects, emerging industries and a new type of urbanization.

In the first two months of the year, investment in China rose 12.2 percent year-on-year, 7.3 percentage points higher than the figure for the whole year of 2021.