February 26, 2019 / 2:22 AM / 3 months ago

China infrastructure investment under pressure, state planner says

Construction sites are seen behind apartment buildings in the fog on the outskirts of Tianjin, China, February 23, 2019. REUTERS/Jason Lee

BEIJING (Reuters) - Infrastructure investment plans are under pressure in China as the confidence of investors in them has dipped, the state planner said on Tuesday, adding that some provinces have seen a sharp drop in planned projects.

In China, infrastructure projects are usually carried out by local and other state-controlled bodies.

The National Development and Reform Commission (NDRC) said in a report that manufacturing investment may also face some downward pressure in the first half of 2019, as company profits have been squeezed since late last year on sluggish demand and weak prices.

Property investment in the first quarter will maintain relatively rapid growth as some projects have been under construction since 2018, but new construction starts may suffer a decline, the NDRC said.

Reporting by Beijing Monitoring Desk and Yawen Chen; Editing by Richard Borsuk

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