Chinese stocks boosted on approved government infrastructure projects

China cement firms are outperforming the broader market on hopes that the government's recently approved infrastructure projects will boost their earnings; Anhui Conch Cement is up 3.8 per cent at CNY15.64 and Xinjiang Tianshan Cement is 9.6 per cent higher at CNY8.79.

Last week, China's National Development and Reform Commission (NDRC) approved new subways, highways and other projects estimated at around US$156bn. The projects will be positive for steelmakers, cement producers, construction-materials firms, as well as railway and subway equipment manufacturers, says Moody's Investors Service. "The government has slated most of the planned projects for completion in three to eight years, but spending could start within months and give a needed boost to China's economic growth." (Source: Dow Jones)