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China to speed up large construction projects in 2016 - regulator

Reuters

BEIJING (Reuters) - China will speed up the launch of large-scale, strategic construction projects this year and aim to make local governments more accountable for investment, the country's state planning agency said on Sunday.

In a notice posted on its website (www.ndrc.gov.cn), the National Development and Reform Commission said the investment climate would remain "complex" this year and China needed to increase the effectiveness of its spending.

It said China needed to find the best combination of reforms that would maintain stable growth, make structural adjustments to the economy and "appropriately" boost domestic demand.

The NDRC said at a press briefing earlier this month that China's economic growth was expected to reach 6.5 to 7 percent this year, with the world's second largest economy still facing downward pressures.

(Reporting by David Stanway and Douglas Huang; Editing by Michael Perry)