China's subway splurge could help its steel sector get back on track
BEIJING (Reuters) - A push to expand subway networks in some of China's biggest cities along with a drive to boost broader infrastructure investment in the world's No.2 economy are helping brighten the outlook for the nation's mammoth steel sector.
The northeastern cities of Jiangsu and Changchun, as well as Shenzhen in the south, last month announced plans to spend the equivalent of billions of dollars boosting their underground systems by a total of around 1,600 kilometres (1,000 miles), gobbling up steel as they expand.
While on Tuesday, the top state planner said it would ramp up investment in infrastructure and accelerate spending on projects that have already been approved, as the nation tries to spur economic growth amid a festering trade war with Washington.
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