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China prevents repetitive construction in 4 trillion yuan investment
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16:48, August 07, 2009

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China's 4 trillion yuan investment structure reasonable

In terms of issues such as repetitive construction and production overcapacity, the central government has proposed preventing repetitive construction and tightening management at every investment stage, said Luo Yunyi, president of the Investment Research Institute at the National Development and Reform Commission.

For the next stage of investment, relevant departments will implement an investment plan worth 4 trillion yuan and at the same time research various views which aim to encourage and promote private investment.

The Central Commission for Discipline Inspection, the CPC and the Ministry of Supervision together with relevant departments have set up 24 inspection teams dispatched to all parts of the country to strengthen and speed up the investigation. As indicated by the results of two rounds of auditing, the overall implementation of central government investment project is proceeding smoothly.

However, the investigation has uncovered a number of issues. For example, the availability of supporting funds from local governments is low, the preparatory work of some projects does not have a solid foundation, and project management is failing to meet standards. These are not mainstream problems, but close attention should be paid to them.

By People's Daily Online

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