China is boosting infrastructure spending as expected. This will underpin long-term growth. Already traffic was surprisingly strong in September. Weak or negative growth in the leading economic areas is being offset by strong growth elsewhere. Major Chinese expressway and railway operators may see near-term challenges but are cash-rich and offer high dividends. Our top picks are Anhui, Jiangsu, Guangshen and Daqin.  Please see our attached Infrastructure Monitor for detail