National

Regional

Taiwan, HK, Macao

Special Coverage

Focus

Society

Profiles

China spends $105B for public projects by end of Aug

(Xinhua)
Updated: 2009-10-29 10:07

BEIJING: China's central government had invested 717 billion yuan ($105 billion) in major public projects as of the end of August, said in a report issued Wednesday by the State Council, the Cabinet.

The figure accounted for 79 percent of the 908 billion yuan of total investment in 2009, said Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC).

Related readings:  Growth goal 'no problem': NDRC  Jan-Sept GDP growth greater than 7%: NDRC  NDRC: Restructure to reduce export reliance  No change in China's macroeconomic policy: NDRC offical  NDRC: Price system reform underway

Zhang elaborated the report Wednesday to a session of the Standing Committee of the National People's Congress (NPC), China's top legislature.

The 717 billion investment was mainly allocated to livelihood programs including low-income housing projects, infrastructure in rural areas, health and education programs, energy saving and emission reduction projects, and post-disaster reconstruction, according to the report.

The livelihood projects saw 270,000 sets of the low-rent apartments completed, 22.78 million rural people gain access to safe drinking water, and 1,500 kilometers of railway put in use.

The central authorities will continue to strengthen supervision over the use of the funds and intensify management on the quality and security of the projects, said Zhang.

The money is part of the 4-trillion-yuan, two-year stimulus package announced by the central government last November to revive the economy.