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China has launched a US$120 billion credit line for infrastructure projects, state media reported, as Beijing tries to jump-start its ailing economy, which has been pounded by the country’s “zero COVID-19” measures. Chinese Premier Li Keqiang (李克強) last week called for “reasonable” expansion in the second quarter as fears mount for the vaunted official annual growth target of about 5.5 percent. Pump priming hard-hit provinces with infrastructure schemes has emerged as a key tool to create jobs and drive growth in local economies flatlined by the virus and a concurrent collapse in receipts from land sales to developers. A Chinese State Council

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