China Securities Journal- Govt to increase infrastructure spending to help economic growth

From the China Securities Journal, via MNI:

• Government will increase infrastructure spending to help economic growth, but with no details reported

It does go on with more general details:

• Says the National Development and Reform Commission has approved projects with total investment of more than CNY450 billion since May 18
• Infrastructure spending growth must rise more than 25% this year to CNY14 trillion to ensure a 7% GDP rise, the report says quoting Minsheng Securities
• Infrastructure spending rose 20.4% y/y in the first four months
• The government has cut interest rates, increased asset-based securitization quota and asked banks to continue lending to local-government financing vehicle projects,
• Yuan lending will rise and off-balance-sheet financing will recover as a result of these initiatives, it says quoting Guotai Junan Securities research