Highway project
CHINA has approved a 10.99 billion yuan (US$1.7 billion) highway project in the eastern coastal province of Zhejiang, the State planner said in a statement Tuesday.
This is the fifth infrastructure project with an investment value of at least US$1 billion that has been given the go-ahead by the National Development and Reform Commission in June.
Crude oil imports
CHINA’S crude oil imports in May from Russia hit a fresh record at 5.245 million tons, or about 1.24 million barrels per day (bpd), up 33.7 percent from a year earlier, data from the Chinese General Administration of Customs showed Tuesday. Shipments from second-ranking supplier Saudi Arabia grew 33.6 percent last month over the year-ago level to around 961,000 bpd.
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