Booming China seeks to head off a bust

Newswire

BEIJING, April 28 (Reuters) - China must take steps to rein in frenzied fixed-asset investment before boom turns to bust and sparks an economic and social backlash, the development chief was quoted on Wednesday as saying. The remarks by Ma Kai, head of the Development and Reform Commission, follow Beijing's move to raise capital requirements for new projects in sectors such as steel and property, effectively restricting borrowing, in order to cool spending. China's economy expanded 9.7 ...

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