RMB300 billion stimulus investment takes effect

The Chinese government has announced smooth progress for economic improvement projects funded by the Central Government stimulus investments announced last year, including 2 million hectares of new forestry and clean drinking water for 14.6 million rural citizens.

A total of RMB300 billion (US$43 billion) was assigned towards three Central Government investment programmes with emphasis on improving rural infrastructure, public health, education, environmental protection and creating affordable housing. The first two tranches of RMB100 billion and RMB130 billion have now been invested, with the government reporting the following successful projects amongst its efforts:

  1. transformation of 100,000 shantytown houses in coal mining areas;
  2. renovation of 129,000 folk houses in sunken coalmining areas;
  3. provision of clean drinking water supplies for 14.6 million people in rural areas;
  4. construction of methane cooking facilities for 1.6 million households in rural areas;
  5. building of 20,000km roads and 40,000km electricity grids in rural areas;
  6. completion of 450 major water conservancy projects;
  7. completion of 6,500 new medical and health facilities at a community level; and
  8. planting of 1,934,000 hectares of new forests.

At the same time, the government has issued RMB200 billion worth of bonds to ease the funding shortages amongst local governments, eased capital requirements for infrastructure projects and toughened capital requirements for high pollution and high energy projects.

About James Ockenden (225 Articles)
A writer covering international energy and power markets since 1996
%d bloggers like this: