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China doubles down on infrastructure to spur growth

Policymakers add $149 billion to existing funding as economy slumps

Workers at a Beijing construction site in 2017. Zero-COVID policies have hammered consumption and slowed exports, which the government hopes to remedy by increased spending.   © Reuters

Renewable energy, technology and water management projects are set to be among the largest beneficiaries of China's latest infrastructure investment boom, the likes of which have not been seen since the global financial crisis.

Policymakers are doubling down on infrastructure in the second half of the year, putting more than 1 trillion yuan ($149 billion) in additional funding to work as they try to revive the economy, which just recorded the weakest quarterly growth since early 2020 in the second quarter.

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