China's top economic regulator has denied reports that the country's recent approved infrastructure projects qualify as economic stimulus.
Earlier reports said the State Council approved seven projects valued at 7 trillion yuan, or some 1 trillion U.S. dollars, by the end of last year, arousing speculation of strong stimulus.
Luo Guosan is an official of the National Development and Reform Commission.
"The newly approved infrastructure projects aim to encourage social capital to flow into the regions rather than serving as stimulus based on fiscal expenditure. The projects are different from the 4-trillion-yuan stimulus program in 2008."
Luo did not give out the official value of the projects and said it is still subject to calculation of the NDRC.
The seven major projects include oil networks, power grids and clean energy.
