China approved plans to build 2,018 kilometers (1,254 miles) of roads, spurring the biggest stock-market rally in almost eight months on signs the government is stepping up stimulus efforts to revive economic growth.
The government also backed nine sewage-treatment plants, five port and warehouse projects, and two waterway upgrades, according to statements on the website of the National Development and Reform Commission yesterday. No investment amounts were given.
The approvals on Sept. 5 for a total of 25 new subway and inter-city rail projects are worth more than 800 billion yuan ($126 billion), or 1.7 percent of 2011 gross domestic product, according to HSBC. The spending will run from the second half of the year to 2018, it said.