Xi’s Spending Vow Lifts Infrastructure Stocks: Evergrande Update

China’s infrastructure firms rose after President Xi Jinping vowed to boost construction, reverting to an old playbook to drive up growth for an economy hard-hit by an increasing number of pandemic lockdowns.

All-out efforts must be made to spur infrastructure spending, Xi said Tuesday at a meeting of the Central Committee for Financial and Economic Affairs. That includes airports and other transportation hubs as well as energy and water conservancy projects. The committee also urged more fiscal spending and a broadening of long-term financing channels for construction.