MNI BRIEF: China Provides CNY500 Bln More For Investment-NDRC

China will provide an additional CNY500 billion to support investment as the economy faces challenges, National Development and Reform Commission spokesperson Li Chao told a briefing on Monday. 

The CNY500 billion in new policy-based financial instruments will be used to supplement project capital, and efforts will be made to channel these funds into specific projects in a bid to push local governments to speed up their completion, she said. (See MNI: Beijing Preps Policy-based Bonds Aimed At Infrastructure)

The foundation for economic recovery still needs to be further consolidated, and the NDRC will introduce measures in a timely manner in response to changing circumstances, Li said.