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China to invest US$6b in rural projects
(Xinhua)
Updated: 2004-04-13 09:16
The Chinese government will invest 50 billion yuan (US$6.02 billion) in rural
infrastructure construction this yer, according to the State Development and
Reform Commission.
The figure was released Monday at a working meeting on rural economy attended
by representatives from development and reform departments.
Though the central government has cut treasury bond investment this year, 30
percent of the bond, or 40 billion yuan (US$4.82 billion), has been earmarked
for agriculture-related infrastructure construction, about five percentage
points up from the previous year.
Together with investment from the central government's budget, the investment
added up to 50 billion yuan (US$6.02 billion), said Liu Jiang, deputy director
of the State Development and Reform Commission.
The investment will be used mainly on projects such as traffic, irrigation
and electric systems in the countryside and priority will be given to the
western areas and major grain production centers.
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