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25% Of Stimulus Package Goes To Sichuan
By Elaine Kurtenbach |
May 22, 2009, Friday
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Print Edition
Print Edition
A quarter of China's 4 trillion yuan (US$586 billion) economic stimulus package is going to rebuilding from last year's devastating earthquake in Sichuan Province, the government said yesterday in an outline of how the program is being carried out.
The report by the National Development and Reform Commission, the top economic planning agency, was the first detailed outline of how China intends to spend the stimulus funds and what it has done so far.
Questions remain, however, over how much of the money is newly allocated and how much predates the package's launch in late November.
The report showed another 1.5 trillion yuan going to other construction of roads, railways, airports, irrigation and other basic infrastructure across the country.
The report by the National Development and Reform Commission, the top economic planning agency, was the first detailed outline of how China intends to spend the stimulus funds and what it has done so far.
Questions remain, however, over how much of the money is newly allocated and how much predates the package's launch in late November.
The report showed another 1.5 trillion yuan going to other construction of roads, railways, airports, irrigation and other basic infrastructure across the country.
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