China to Spend US $146 Billion on Quake Reconstruction

The China Post reports that the Chinese government’s National Development and Reform Commission (NDRC) plans to spend one trillion yuan ($146.5 billion USD) over the next three years to reconstruct areas affected by the .

The funds would have the goal of making “basic living standards and economic development match or exceed pre-quake levels”, the Beijing News said, citing the (NDRC).

The budget, allocated to 51 of the hardest-hit counties in Sichuan, Shaanxi and Gansu provinces, would include 120 billion yuan for health, education and other basic services, the NDRC said in a notice on its web site (www.ndrc.gov.cn).

Other funds would be divided among housing construction, industrial development, environmental protection and big-ticket infrastructure projects, including a multi-billion yuan railway connecting Sichuan capital Chengdu with the quake-damaged town of Dujiangyan.

For more information on the Sichuan Earthquake, see past CDT posts.

November 8, 2008 6:21 PM
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Categories: Main, Society