Economy

Markets

Industries

Insights

Reports

Events

China vows quality work in new investments

(Xinhua)
Updated: 2008-11-24 15:47

China's top economic planning agency said on Monday it will ensure the quality of work and investment in 100 billion yuan ($14.7 billion) worth of spending on public facilities, transportation and rural construction.

"In deciding the designated areas of investment and choosing specific projects, we followed the requirements set out in the eleventh five-year plan. That way, we can avoid overlapping projects or unwise investment," said an official from the National Development and Reform Commission.

"In a sense, we are making an early investment into some of the parts of the national development plan," said the official.

The central government has set up 24 supervision teams, which will be dispatched to local areas to ensure that projects with central investment are carried out immediately and properly.

The 100 billion yuan will be used in a range of areas including rural infrastructure, housing, transportation, social services such as psychological care and education, energy conservation and technical innovation.