Investment boost to solidify growth

China plans to solidify the foundation for growth by accelerating investment that addresses gaps in the economy. The announcement came as positive economic signs emerged for the first quarter.

“The government will inject more money to improve weak links, including water conservancy, poverty alleviation and the environment, in order to see further healthy growth,” National Development and Reform Commission spokesman Yan Pengcheng said on Thursday.

Yan said he expected the economy to sustain its positive momentum after the nation’s GDP rose by 6.8 percent in the fourth quarter of 2016, compared with 6.7 percent in the first three quarters.

Official economic data for the first quarter will come out on Monday.

Yan spoke as some early indicators for the first quarter show the economy is on the path of recovery.

Power consumption rose by 6.9 percent year-on-year in the first three months, an increase that is 3.7 percentage points higher than in the same period last year.

Electricity use by primary industry — involving resources extraction, farming and fishing — increased by 10.1 percent in the first quarter from a year earlier.

To help sustain such trends, the commission will increase financing for projects in industrial and public services development, according to Yan.