A TOP economic planner said today that major water projects and other infrastructure investment would help ensure that China met 2014’s 7.5 per cent growth target.

National Development and Reform Commission director general Li Pumin insisted that measures to stimulate consumption and halt a decline in investment would start having an effect in the final quarter of the year.

“I am confident we can achieve the annual growth target,” he said.

China’s urban fixed-asset investment in the first eight months of 2014 grew 16.5 per cent from the same period last year.

That was down half a percentage point from the first six months of the year, largely as a result of slowdowns in real estate development and manufacturing, Mr Li said.

However, the decline should be offset by progress in ongoing water conservation projects in which almost £63 billion is being invested.