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China's 4 trillion yuan investment structure reasonable |
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16:56, August 07, 2009 |
China prevents repetitive construction in 4 trillion yuan investment
Central investment totaling 380 billion yuan has been allocated to local level, as part of China's 4-trillion-yuan economic stimulus package in the first half of 2009. Not only has the allocated investment achieved some effect, but also its structure is reasonable, Luo Yunyi, director of the Institute of Investment under the National Development and Reform Commission (NDRC) said.
The real growth rate of China's fixed asset investment in the first half exceeded 35 percent, a relatively high level, Luo added.
According to NDRC statistics, of the planned central investment totaling 380 billion yuan which has been allocated in four batches, 37.5 billion yuan was allocated to welfare housing construction, 104.3 billion yuan to the rural residents' livelihood project and rural infrastructure construction, 87.1 billion yuan to major infrastructure construction including railways, highways, airports and water conservancy, 57.3 billion yuan to social welfare including medical and health care, education and culture, 39.6 billion yuan to energy saving, emission reduction and ecological environment construction and 54.2 billion yuan to independent innovation and industrial restructuring.
"All these efforts are very necessary," Luo said. He also disclosed that judging from the situation in the first half, investment injected into sectors which are demanding further development in the national economy, increased rapidly, with investment in agriculture, forestry, animal husbandry and fishing industries, the railway industry and the water conservancy industry up 69 percent, 126 percent and 65 percent year-on-year respectively.
In addition, investment in the private sector increased by 34.2 percent, indicating a sound investment trend.
By People's Daily Online
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