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China Tries to Revive Economy With $205 Billion of Projects in 2020: Report

  • BNEF expects post-lockdown spending that skips old industry
  • Seven areas of investment to include 5G and power networks

China will likely spend about $205 billion this year on projects ranging from 5G networks to power grid enhancements to rail upgrades as it tries to revive its economy after the coronavirus pandemic, according to BloombergNEF.

Those sectors are among seven that China has identified as “new infrastructure,” which it wants to prioritize in its recovery, BNEF said in a report Friday. The focus on stimulus comes after the government’s lockdown to halt the spread of Covid-19 caused the economy to contract by an unprecedented 6.8% in the first quarter.