China will take a targeted approach to boosting investment and will not resort to massive stimulus in its infrastructure push, the state planner said on Tuesday, as Beijing ramps up support to stabilise its slowing economy.
"We will resolutely not open the floodgate of stimulus and will scientifically push forward these major projects," Meng Wei, spokeswoman at the National Development and Reform Commission, told reporters in a regular briefing.
Meng said the market would play a decisive role in resource allocation and that policy support for infrastructure projects in the central and western China would be stepped up.
China has the confidence to achieve its full-year economic targets, Meng said.
Beijing has said it would maintain its proactive fiscal stance and prudent monetary policy, making economic adjustments more forward-looking, targeted and effective.