China’s State Grid Plans $44 Billion of Investment in Second Half to Give Economy a Jolt

What’s new: The world’s largest utility State Grid Corp. of China said it would invest about 300 billion yuan ($44.4 billion) over the remainder of the year, as China ramps up infrastructure spending to shore up economic growth.

The figure includes new spending of 150 billion yuan earmarked for ultra-high voltage power line construction — up from a spend of 90 billion yuan in the first half, according to comments from the chairman of the firm published by China’s official news agency Xinhua.