BEIJING, May 21 (Xinhua) -- China's economic planning
body released a breakdown Thursday of how the government's 4 trillion yuan (586
billion U.S. dollars) of stimulus funding was being spent.
Since the stimulus package was unveiled in November,
230 billion yuan had been used as of the end of April, the National Development
and Reform Commission (NDRC) said on its website.
According to the commission, 214,000 units of
low-income housing were completed, with construction started on another 650,000
units.
About 14.6 million people have access to safe
drinking water and 20,000 kilometers of new roads were completed in rural areas.
The money also went to the completion of 445
kilometers of highways and 100,000 square-meters of terminal buildings.
Some 6,500 health service projects to improve public
health and education were funded.
The commission said 1.18 trillion yuan, or 29 percent
of the total package, was offered by the central government. The remaining fund
will be supplied by local governments and the private sector.
Yan Yiming, a Shanghai lawyer specializing in
securities, requested the Ministry of Finance (MOF) and NDRC publicize the
detailed expenditure of the hefty stimulus package.
His call was echoed by millions of Chinese netizens
who were concerned about the money being misused, corruption and the
effectiveness of policies.
Mu Hong, vice minister of the
NDRC, told Xinhua on March 2 that the commission would release information about
expenditures on its website (www.ndrc.gov.cn
), and accept public comments.
On March 6, the commission released spending details
for the first time. Roughly 1.5 trillion yuan will go to infrastructure
construction including railways, roads, airports, urban power grids and
irrigation projects. That takes up the biggest share of the money.
As for others, low-income housing projects will get
400 billion yuan. 370 billion yuan will be used to improve rural infrastructure
and people's well-being. Some 150 billion yuan will help improve health care,
education and cultural development. Energy saving and ecological projects will
get 210 billion yuan. 370 billion yuan will fund innovation and industry
restructuring.
About 1 trillion yuan will fund rebuilding areas hit
by the May 12 Wenchuan earthquake.
BEIJING, May 18 (Xinhua) -- China's National Audit Office
(NAO) said Monday that no major problems, but some notable minor ones, had been
found as of the end of the first quarter by its oversight of the country's
stimulus package.
Lack of local support funds and imperfect measures for
policy implementation, as well as some fake contracts and receipts for
discounted notes, were the main problems that needed fixing, the NAO said in its
third report of the year. Full story
BEIJING, May 7 -- A growth rate of 6.1 percent in the
first quarter of 2009, the lowest in a decade, has reaffirmed the Chinese
government's commitment to stimulate its economy through massive domestic
spending and targeted foreign assistance.
The country's leaders are serious about pulling China out
of the economic crisis and helping its trading partners in East Asia do so as
well. America should applaud China's efforts. Full story
