Reuters first with major scoop on China’s $1.5 trillion investment plans

Reuters clients were first with some major economic news from China on Dec. 2: that Beijing is considering a massive $1.5 trillion in investment over five years in seven strategic sectors. The size of spending rivals the country’s stimulus program launched during the financial crisis. Bloomberg picked up the source-based scoop as did other media, and it was one of the top stories on CNBC the following day. The targeted industries include alternative energy, biotechnology, new-generation information technology, high-end equipment manufacturing, advanced materials, alternative-fuel cars as well as energy-saving and environmentally friendly technologies. The story prompted speculative Chinese stock investors to flock into small cap new energy firms seen benefiting from the package.