CHINA
From Times Staff and Wire Reports
Public Works Plans Outlined: The country needs to spend $500 billion in the next decade on public works to ease problems that are hampering economic development, according to official reports. Finance Minister Liu Zhongli said China would have to raise more funds in overseas capital markets and seek more loans from international financial organizations and governments, the China Daily said. China’s investment in infrastructure last year reached about $21.4 billion, nearly matching the entire amount invested between 1981 and 1985, the report said.
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