"China Plans To Spend Big On Nuclear Power, High-Speed Rail"

"Nuclear power and high speed rail will top the focus of China's plan to invest $1.5 trillion in seven key industries and shift the world's number two economy away from its role as a supplier of cheap goods, sources said.

State-owned enterprises, rather than the government, will play the main role of channeling the investment, said one source with ties to the leadership.

China envisages high-end equipment manufacturing, including high-speed rail and aviation equipment, becoming a pillar of economic growth alongside energy-saving and environmentally friendly technologies, biotechnology and new generation information technology such as telecoms and the Internet.

The other strategic sectors are alternative energy, advanced materials and alternative-fuel cars."

Benjamin Kang Lim reports for Reuters February 2, 2011.

Wednesday, February 2, 2011