Is that a $37 billion infrastructure Guangdong, or are you just glad to see me?

I saw this story on Bloomberg yesterday, but was waiting for it to be published to the web. Finally it is -- but not on Bloomberg, on the Shanghai Daily website. Here's the story...

Guangdong to boost infrastructure
2006-09-22

GUANGDONG Province will spend 290 billion yuan (US$37 billion) expanding its roads and ports, as it seeks to win further investment from overseas companies, Bloomberg News reported. The investment in roads, totaling 200 billion yuan, will increase the province's network 22 percent to 140,000 kilometers within five years, the local government said in a statement on its Website. The government will also spend 87 billion yuan adding 140 deepwater berths at its ports over the same period.

Why this is important: Guangdong is the largest economy in China. This one province's gross domestic product grew 13% last year to 2.17 trillion yuan ($276.6 billion), which is larger than Denmark's.

• Guandong will have 5,000 kilometers of highway by 2010 -- an increase of 61%.
• There are plans to boost Guangdong's sea port capacity by 450 million metric tonnes a year. This will involve adding 140 deepwater berths. Wow!

Does that sound like an economy that is slowing down to you? Heck no! And China (and other emerging markets) will help drive the commodities demand of the world.

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