China’s Xi Jinping has called for an “all-out” campaign to build infrastructure, according to state media, marking the latest attempt by leaders to boost growth in the Covid-battered economy. | AFP
Heckling of Jillian Robredo in Baguio ‘unacceptable’; organizers say market visit was ‘coordinated operation’
The meeting identified several sectors such as transport and energy where an infrastructure boost was needed, including the construction of ports and airports. Xi’s comments are the latest in a series of statements and steps aimed at boosting confidence in the economy and reassuring markets. Shanghai stocks rallied more than two percent — although traders remain concerned about the latest virus resurgence.After the 2008 financial crisis, Beijing launched a stimulus package worth hundreds of billions of dollars — including massive infrastructure investment — but that piled on the debt for local governments and state enterprises.
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