China's central government has budgeted more than 50 billion
yuan (6.25 billion U.S.) to finance rural construction and
development this year, says an official investment guidebook
released in Beijing on Tuesday.
The document released by the National Development and Reform
Commission said that about 31 billion yuan would be used to support
grain production, infrastructure development, education,
sanitation, poverty alleviation and the development of grass-roots
democracy. Over the past five years government financing of these
types of projects reach 25 billion yuan a year.
Investment in water supply facilities are budgeted at 4 billion
yuan, an increase of 100 percent from a year earlier. The central
government is expected to spend 2.5 billion yuan in the development
of marsh gas projects, an increase of 150 percent from the previous
year.
Another 19 billion yuan has been budgeted for environmental
protection, development of large grain production bases and the
country's off-shore fishery.
The document said the increased expenditures were designed to
"shift the focus of the country's infrastructure construction to
the rural area".
According to the guidebook, better budget management and
improved spending efficiency are high priorities.
Starting this year the commission will provide details on which
sectors need capital support in rural China and make them public to
better guide investment from local governments.
(Xinhua News Agency July 5, 2006)
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