Source: CCTV.com

11-11-2008 09:15

Special Report:   Global Financial Crisis

China's top economic planner held an emergency meeting on Monday to plan out the first batch of its massive 4-trillion-yuan stimulus package. In all, 100 billion yuan will be invested in the fourth quarter of this year.

The National Development and Reform Commission said the fourth quarter investment will be directed at the construction of guaranteed housing projects, the improvement of rural standards of living, and the development of infrastructure across the country, especially in rural areas.

Zhang Ping, NDRC Minister

The investment will also be focused on social welfare, environmental protection and other key sectors like innovation and structural adjustments, as well as reconstruction of the quake-hit zones.

Zhang Ping, NDRC Minister said "We will give priority to investments in building projects, projects that have already gotten approved, and those under planning. Besides, we have repeatedly stressed the need to stretch the overall industrial chains."

The watchdog said investment in industries that consume high levels of energy and heavily contribute to pollution, as well as those that participate in low-grade redundant development, is strictly forbidden.

It also said relevant departments will team up to supervise the use of the fund.

 

Editor:Xiong Qu