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Thursday, 04 June 2009 |
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The release by the Ministry of Finance (MOF) on Thursday showed that as of May 31, China had allocated 562 billion yuan for public works projects, completed 61.9 percent of its whole year budget of 908 billion yuan. The next step is the promptly allocate the remaining funds so it can efficiently boost China's internal demand and consumption. This year's budget of 908 billion yuan for public works projects is 487.5 billion yuan higher than last year.
Below is the detailed list of fund allocation so far:
- 42.7 billion yuan for low income housing projects.
- 138.1 billion yuan for enhancing rural infrastructure and living standard, like the construction of irrigation facilities, power grids, drinking water systems, and paved roads.
- 163.5 billion yuan for transportation systems, including 73.2 billion yuan for railways, 65.3 billion yuan for highways, 17.1 billion yuan for airports, and 7.9 billion yuan for ports.
- 44.2 billion yuan for education, medical care, and cultural development.
- 27.8 billion yuan for environmental protection and energy saving.
- 41.2 billion yuan for supporting technical innovation, industrial upgrades, and service industry development.
- 84.8 billion yuan for after-earthquake reconstruction.
- 19.7 billion yuan for public service facilities.
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