Beijing appears to be fast-tracking infrastructure projects in an effort to support the economy,...

|By:, SA News Editor

Beijing appears to be fast-tracking infrastructure projects in an effort to support the economy, with approvals doubling Y/Y through the end of April, and government spending up 27%. Steel plants are a big favorite - the only trouble is the country is awash in overcapacity. "(It) will make things worse in the long term," says a trader of the metal.