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China allocates $40b for infrastructure investment so far in 2009

(Xinhua)
Updated: 2009-05-27 14:29

China's central government has allocated 270 billion yuan ($39.7 billion) for infrastructure investment so far this year, a National Development and Reform Commission (NDRC) official told legislators Tuesday.

That amount is part of a planned total of 367.6 billion yuan in the 2009 central budget.

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Adding another 30 billion yuan from last year's budget meant that the country had already allocated 300 billion yuan to infrastructure investment since the fourth quarter of last year, NDRC vice director Mu Hong told legislators.

The NDRC is China's top economic planning body.

Mu made his comments during a session on major public investment projects held by the Standing Committee of the National People's Congress, the top legislature.

The money is also part of the 4-trillion-yuan, two-year stimulus plan announced late last year as the economic downturn deepened.