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Sichuan unveils 3.67b yuan stimulus plan
By Wang Yanlin |
September 24, 2012, Monday
|
Online Edition
Online Edition
SICHUAN Province announced to invest 3.67 trillion yuan (US$582 billion) in 2,242 projects by 2013, becoming the biggest spender so far in a new wave of economic stimulus measures.
The provincial government passed a bill to invest 1.48 trillion yuan in 639 infrastructure projects, 1.8 trillion yuan in 1,253 industrial projects, and the rest will be spent on projects related to people's livelihood and environmental protection.
The move allowed Sichuan Province to join a batch of other places which unveiled big stimulus packages in the past month totaling more than 7 trillion yuan.
Among them were Tianjin's 1.5 trillion yuan program to build 10 industrial chains before 2016, Chongqing's 1.5 trillion yuan plan for large projects through 2015, and similar ambitious schemes announced by the cities of Guangzhou and Changsha, and Guizhou Province.
Tang Limin, director of the Sichuan Development and Reform Commission, said the provincial government encourages private investors to participate in these projects and will strengthen supervision over the use of funds.
The provincial government passed a bill to invest 1.48 trillion yuan in 639 infrastructure projects, 1.8 trillion yuan in 1,253 industrial projects, and the rest will be spent on projects related to people's livelihood and environmental protection.
The move allowed Sichuan Province to join a batch of other places which unveiled big stimulus packages in the past month totaling more than 7 trillion yuan.
Among them were Tianjin's 1.5 trillion yuan program to build 10 industrial chains before 2016, Chongqing's 1.5 trillion yuan plan for large projects through 2015, and similar ambitious schemes announced by the cities of Guangzhou and Changsha, and Guizhou Province.
Tang Limin, director of the Sichuan Development and Reform Commission, said the provincial government encourages private investors to participate in these projects and will strengthen supervision over the use of funds.
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