BEIJING, Dec. 9 (Xinhua) -- China will try to distribute public
resources to areas directly benefiting ordinary people, when carrying out the
economic stimulus package announced on Nov. 9.
The statement was made Tuesday by the National
Development and Reform Commission (NDRC), the nation's top economic planning
agency.
The government will also try to make sure the 4
trillion yuan (586 billion U.S. dollars) is being spent correctly over the next
two years, the NDRC noted.
The agency said priority would be given to projects
improving people's livelihood, including those in rural areas, housing projects
for low-income earners in urban areas, and social undertakings.
Thanks to the stimulus package, 7.5 billion yuan was
added in the fourth quarter to the 2-billion-yuan investment earmarked earlier
this year by the central government for low-rent housing projects in urban
areas.
Meanwhile, infrastructural construction, embracing
railroads, highways and water conservancy projects, and biological conservation
and environmental protection as well as post-disaster rebuilding, will also be
put on top of the development agenda in the coming two years, according to NDRC.
To avoid repetitive construction, environmental
devastation and redundant production capacities, strict management should be
exercised.
That includes rigid implementation of industrial and
environmental policies, market access criteria, along with policies related to
land used for construction, environment assessment, energy conservation and
emissions reduction.
To prevent jerry-built projects and corruption,
supervision should be intensified, accountability should be enforced and
transparent and effective operation of related funds should be ensured,
according to the NDRC.
As for local investment supporting the central
government's financial input, the economic planning agency said local projects
should be in conformity with the principles of scientific and sustainable
development and with the related policies worked out by the central government.
Four trillion yuan is equivalent to one third of the
nation's total fixed asset investment last year.
Around 280 billion yuan will go to housing projects
for low-income earners, about 370 billion yuan to rural infrastructure and
projects to improve living standards of rural dwellers, some 40 billion yuan to
healthcare, education and cultural undertakings, approximately 350 billion yuan
to biological conservation and environmental protection, and 1 trillion yuan for
post-disaster reconstruction projects.
Besides, 1.8 trillion yuan will be used for building
railroads, highways, airports and other transportation infrastructures. Another
160 billion yuan will pay for technical innovation and industrial restructuring.
BEIJING, Nov. 29 (Xinhua) -- Chinese President Hu Jintao
warned on Saturday that the global financial turmoil will make it harder for
China to maintain the pace of its economic development in the near future.
China is under growing tension from its large
population, limited resources and environment problems, and needs faster reform
of its economic growth pattern to achieve sustainable development, said Hu when
addressing members of the Political Bureau of the Communist Party of China (CPC)
Central Committee. Full story
GUANGZHOU, Dec. 4
(Xinhua) -- Vice President Xi Jinping on Thursday said keeping China's economy
growing amid the global financial crisis would test the competence of government
leaders.
At a two-day meeting that started
on Wednesday, attended by about 10 provincial leaders, Xi urged government
officials to find ways to sustain steady, rapid economic growth. Full story
BEIJING, Dec. 8 (Xinhua) -- Unlike
measures taken during the Asian financial crisis 11 years ago, more attention is
focused on improving people's living standards in the Chinese government's
recent 4 trillion yuan (584 billion U.S. dollars) economic stimulus package,
experts said.
The package, unveiled early last
month, included 280 billion yuan in spending for low-income housing projects,
370 billion yuan for improving people's living standards and infrastructure in
rural areas and 40 billion yuan for health and education programs.
Full story
BEIJING, Dec. 2 (Xinhua) -- Chinese
economy is forecast to grow by more than 9 percent next year, according to an
annual blue paper released by the Chinese Academy of Social Science on Tuesday.
Despite the huge uncertainty in
2009, China could still achieve a 9-percent growth as long as it unveils timely
and suitable macro-economic control measures to boost domestic demand, said the
blue paper. Full story
