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Backgrounder: Economic stimulus plans by China's ministries, agencies
[2008-12-30 16:10:15]
December 30, 2008
China's ministries, agencies, and local governments have announced numerous investment plans since the cabinet announced a 4-trillion-yuan (586 billion U.S. dollars)stimulus package in November to combat the impact of the global financial and economic crisis.
The following is a list, compiled from Xinhua reports, of these plans by ministries and ministry-level commissions. It is not possible, at this point, to determine exactly how different spending plans overlap.
Transportation spending by the ministries of railways and transport, which comprise the single biggest component of announced stimulus plans, will be covered in subsequent reports, as will spending plans by city and provincial governments.-- Agriculture: 5.15 billion yuan, years not specified, divided into five parts including rural biogas projects (3 billion yuan),fine-quality grain production (800 million yuan), animal epidemic prevention (700 million yuan), quarantine and quality inspection of agricultural products (500 million yuan) and home renovation infarming areas (150 million yuan).-- Civil Affairs: no new investment plan announced.-- Commerce: no new investment plan announced.-- Culture: no new investment plan announced.-- Education: no new investment plan announced.-- Environmental Protection: no new investment plan announced.-- Finance: reductions in administrative fees that are expected to save Chinese enterprises about 19 billion yuan, effective Jan. 1.-- Foreign Affairs: no new investment plan announced.-- Health: a special government fund of 4.8 billion yuan, from 2009 to 2010, including rural clinic construction (more than 2.6 billion yuan) and clinic construction in other areas such as state farms, forests and islands (more than 2.1 billion yuan).-- Housing and Urban-Rural Development: 900 billion yuan, from 2009 to 2011, divided into three parts including construction of more than 2 million low-income apartments, 4 million affordable apartments and slum-clearing, percentage of funds not specified.-- Human Resources and Social Security: a plan to raise the enterprise pension fund by 10 percent starting on Jan. 1.-- Justice: no new investment plan announced.-- Land and Resources: a plan to raise land appropriation compensation from 2009, details not announced.-- National Audit Office: no new investment plan announced.-- National Defense: no new investment plan announced.-- National Development and Reform Commission: a 100-bln-yuan central government spending plan in place, years not specified, divided into six parts including social security housing construction (10 billion yuan), rural livelihood and infrastructure construction (34 billion yuan), rail, highway and airport construction (25 billion yuan), health care, education and cultural development (13 billion yuan), energy conservation, pollution reduction and environmental projects (12 billion yuan) and technical innovation and industrial restructuring (6 billion yuan).-- People's Bank of China (central bank): two interest rate cuts of 1.08 and 0.27 percentage points respectively, and two bank reserve requirement ratio cuts by 1.0 and 0.5 percentage point, respectively.-- Population and Family Planning: additional 1 billion yuan to be spent in the fourth quarter, representing previously planned spending brought forward.-- Science and IT: no new investment plan announced.-- State Ethnic Affairs: no new investment plan announced.-- State Security: no new investment plan announced.-- Water Resources: 20 billion yuan on rural water conservation projects, representing part of the fourth-quarter 100-billion-yuanstimulus plan, in place by Nov. 28. This is divided into five parts including projects to improve drinking water safety in rural areas (5 billion yuan), reinforce risky reservoirs (3 billion yuan), save water in major irrigation areas (3 billion yuan), control major rivers (7 billion yuan) and the south-north water diversion project (2 billion yuan).
Source:Xinhua
The following is a list, compiled from Xinhua reports, of these plans by ministries and ministry-level commissions. It is not possible, at this point, to determine exactly how different spending plans overlap.
Transportation spending by the ministries of railways and transport, which comprise the single biggest component of announced stimulus plans, will be covered in subsequent reports, as will spending plans by city and provincial governments.-- Agriculture: 5.15 billion yuan, years not specified, divided into five parts including rural biogas projects (3 billion yuan),fine-quality grain production (800 million yuan), animal epidemic prevention (700 million yuan), quarantine and quality inspection of agricultural products (500 million yuan) and home renovation infarming areas (150 million yuan).-- Civil Affairs: no new investment plan announced.-- Commerce: no new investment plan announced.-- Culture: no new investment plan announced.-- Education: no new investment plan announced.-- Environmental Protection: no new investment plan announced.-- Finance: reductions in administrative fees that are expected to save Chinese enterprises about 19 billion yuan, effective Jan. 1.-- Foreign Affairs: no new investment plan announced.-- Health: a special government fund of 4.8 billion yuan, from 2009 to 2010, including rural clinic construction (more than 2.6 billion yuan) and clinic construction in other areas such as state farms, forests and islands (more than 2.1 billion yuan).-- Housing and Urban-Rural Development: 900 billion yuan, from 2009 to 2011, divided into three parts including construction of more than 2 million low-income apartments, 4 million affordable apartments and slum-clearing, percentage of funds not specified.-- Human Resources and Social Security: a plan to raise the enterprise pension fund by 10 percent starting on Jan. 1.-- Justice: no new investment plan announced.-- Land and Resources: a plan to raise land appropriation compensation from 2009, details not announced.-- National Audit Office: no new investment plan announced.-- National Defense: no new investment plan announced.-- National Development and Reform Commission: a 100-bln-yuan central government spending plan in place, years not specified, divided into six parts including social security housing construction (10 billion yuan), rural livelihood and infrastructure construction (34 billion yuan), rail, highway and airport construction (25 billion yuan), health care, education and cultural development (13 billion yuan), energy conservation, pollution reduction and environmental projects (12 billion yuan) and technical innovation and industrial restructuring (6 billion yuan).-- People's Bank of China (central bank): two interest rate cuts of 1.08 and 0.27 percentage points respectively, and two bank reserve requirement ratio cuts by 1.0 and 0.5 percentage point, respectively.-- Population and Family Planning: additional 1 billion yuan to be spent in the fourth quarter, representing previously planned spending brought forward.-- Science and IT: no new investment plan announced.-- State Ethnic Affairs: no new investment plan announced.-- State Security: no new investment plan announced.-- Water Resources: 20 billion yuan on rural water conservation projects, representing part of the fourth-quarter 100-billion-yuanstimulus plan, in place by Nov. 28. This is divided into five parts including projects to improve drinking water safety in rural areas (5 billion yuan), reinforce risky reservoirs (3 billion yuan), save water in major irrigation areas (3 billion yuan), control major rivers (7 billion yuan) and the south-north water diversion project (2 billion yuan).
Source:Xinhua
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