China plans $157-bn infra spending

China has given the green light for 60 infrastructure projects worth $157 billion as it looks to energise an economy mired in its worst slowdown in three years, fuelling hopes the world’s growth engine may get a lift from the fourth quarter.

China has given the green light for 60 infrastructure projects worth $157 billion as it looks to energise an economy mired in its worst slowdown in three years, fuelling hopes the world’s growth engine may get a lift from the fourth quarter.

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Shares and steel futures jumped on the plans to build highways, ports and airport runways, among the most ambitious unveiled in China this year, which analysts say signalled growing intent to bolster economic growth.

“Apart from the large sizes of the projects... it signals a change in policy stance, which is now much more proactive,” said Zhang Zhiwei, an economist at Nomura in Hong Kong.