Is China’s infrastructure boom past its peak?
A sharp slowdown in investment this year points to a more subdued future
CHINA does not do infrastructure by half measures. It has the world’s longest networks of motorway and high-speed rail (which Hong Kong joins on September 23rd, see article). It has the tallest bridge as well as the longest. It is building nearly ten airports a year, more than any other country. It has the most powerful hydroelectric dam, the biggest wind farm and as much coal power as the rest of the world combined.
But the infrastructure boom has lost steam this year. After expanding at a double-digit pace for much of the past three decades, investment in it has slowed sharply. Since May spending on projects ranging from railways to power plants has fallen compared with a year earlier, the longest weak patch on record.
This article appeared in the China section of the print edition under the headline "Life in a slower lane"
More from China
Why China is unlikely to restrain Iran
Officials in Beijing are looking out for China’s interests, not anyone else’s
China’s young people are rushing to buy gold
They seek security in troubled times
China’s ties with Russia are growing more solid
Our columnist visits a future Russian outpost in China’s most advanced spaceport