Source: CCTV.com

05-29-2008 16:35

Special Report:   Strong quake jolts SW China

Earlier in the week saw an announcement from China's top economic planner stressing that the massive earthquake earlier this month in Sichuan is not likely to have a significant impact on the country's overall economic growth.

Earlier in the week saw an announcement from China's top  economic planner stressing that the massive earthquake earlier this month in Sichuan is not likely to have a significant impact on the country's overall economic growth.

The vice minister of the National Development and Reform Commission said that there were clearly immediate losses from the quake. But Mu Hong was also keen to emphasize that these were largely situated in what are economically less vital regions in the Province.

Mu Hong, Vice Minister of NDRC said "Most of the quake-hit areas are in the northern part of Sichuan and Sichuan's economic growth only accounts for 4 percent of the country's total. So we do not expect massive impact on regional and national GDP. The central budget has earmarked 70 billion yuan for reconstruction start-ups this year. While more funds will be also arranged next year."

Meanwhile the NDRC says as much as 384,000 tons of grain have been set aside for quake relief, while the price of grain and foods are likely to be stable for the rest of the year. And this is largely because farmers in Sichuan managed to reap most of the wheat planted during the harvest season.

 

Editor:Xiong Qu