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China to Inject 300bn into Western Development This Year
During China's western development process, the Chinese government has gradually increased its investment in the region.
Following a pro-active financial policy, T-bond funds used for western development totaled 43bn yuan in 2000. Adding in funds set for basic construction, the total investment reached 70bn yuan. Some 76.2bn yuan has been used for investment on some large projects launched. Now, 40 percent of these projects have been put into use, and some 20bn yuan has been used for ten newly built projects with a total of 100bn yuan of investment.
This year's investment from T-bonds and budgetary funds for the western regions will exceed that of last year. China will start 12 large projects with a total investment of 300bn yuan. The key projects including Qinghai-Tibet Railway, West-East power transmission line, West-East Gas pipeline, water conservancy hubs on the upper reaches of the Yangtze and Yellow Rivers. A batch of pivotal construction projects as feature agriculture, technology and education, infrastructure undertakings and others boosting western development have been launched and some are going to be undertaken.
By PD Online staff member Li Yan
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