300 Bn Funds for Ecological Environment Preservation

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Last updated at: (Beijing Time) Thursday, November 22, 2001

300 Bn Funds for Ecological Environment Preservation

China is going to spend 300 bn yuan on ecological environment preservation, such as turning farmland into forests, bringing sand under control in Beijing and protecting natural forests. The investment fore cological preservation complies with the financial reform demands and is an important part of public financial contribution

Ecological Environment Preservation Funded by Gov

China is going to spend 300 bn yuan on ecological environment preservation, such as turning farmland into forests, bringing sand under control in Beijing and protecting natural forests.

Zhang Youcai, vice minister of the Ministry of Finance, made the remark at the National Ecological Environment Preservation Funds Conference that ecological preservation is a key project funded by state financial departments. It will push China's ecological preservation significantly forward as more funds are provided.

All Projects Comply with Financial Reform Demands

Zhang said under the natural forest protection scheme approved by the State Council a total of 96.2 billion yuan of investment will be made from 2000 to 2010. According to the project of bringing sand under control in Beijing areas co-launched by the State Planning Commission and the Ministry of Finance, the Central Government will invest 55.62 billion in the coming ten years. Moreover, the Central Government has funded 7.45 billion ever since the scheme of turning farmland into forests was mapped in 2000. Sources from the State Forestry Bureau say the total amount of funds on this scheme is going to exceed 100 billion in ten years, with the whole investment of the three schemes adding up to a total of 300 billion.

Zhang said that investment made for ecological preservation complies with the demand for financial reform. China is going to steadily establish a financial framework in accordance with the needs of market-oriented economy. Financial funds will be mainly spent on public welfare and non-profit infrastructure construction rather than common competitive business. Investing in ecological preservation, public welfare and non-profit infrastructure construction, is an important part of public financial contribution.

by PD Online Staff Yang Ruoqian

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