China to Focus Investment on Five Major Sectors in 2009

12,15,2008

From: Xinhua

Ministry of Commerce Website

China will put the bulk of its investment on the development of agriculture, low-cost housing project, infrastructure, energy conservation and social welfare next year, People's Daily, the mouthpiece of the Communist Party of China, reports on Sunday.

Explaining the use of the central government investment, Zhang Ping, minister in charge of the National Development and Reform Commission, said the country will pump more investment into construction of key water control projects, repair of reservoirs in danger and building of more water-saving facilities at major irrigation areas.

The investment will also go to housing projects for low-income families in both urban and rural areas. Local governments are required to provide funds and land for such projects.

The country will speed up construction of key highway and railway sections for energy transportation such as the railway line from Lanzhou, capital of northwestern Gansu Province, to Chongqing, the largest metropolis in western China, and the railway line linking Lanzhou with Urumqi, capital of Xinjiang Uygur Autonomous Region, among others.

In energy conservation, the country will provide more financial aid for waste water disposal and garbage processing facilities, production of planes on domestic feeder lines and spread of use of indigenous nuclear and wind power equipment.

In addition, more investment will be channeled to upgrading of existing school buildings, improvement of public health networks, family planning service, rural cultural center construction and other social welfare projects.