China’s top 5 infrastructure projects set to cost US$131 billion, but overall investment set to drop amid debt fears

Deteriorating local government finances and concerns about mounting public debts are likely to result in China gradually curbing local government infrastructure projects this year, analysts said, although the top five approved last year are still set to cost close to 850 billion yuan (US$131.7 billion).China’s total fixed-asset investment rose to 51.9 trillion yuan (US$8 trillion) in 2020, an increase of 2.9 per cent compared to the previous year, but at the same time, its overall debt level…

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