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China to improve management of central budget funds

(Xinhua)
Updated: 2009-09-15 16:05

China is to further strengthen management over the use of central budget funding in construction investment programs, the Ministry of Finance (MOF) said Monday.

The move aims to make better use of the funding to shore up China's economy and yield better economic returns, the ministry said.

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Relevant government departments have been asked to accelerate the allocation of funding to construction programs, and efforts are also to be made to supervise and impel the speedy implementation of the programs.

Timely measures should be taken to accelerate programs that were lagging behind planning, said the ministry.

In November last year the government unveiled a 4-trillion-yuan stimulus package to be spent over the next two years to boost the economy, with 1.18 trillion yuan ($172.76 billion) coming from the central budget.

Of the 1.18 trillion yuan, 380 billion yuan will be divided between building of housing, infrastructure construction in rural areas, medical care and education, and energy efficiency sectors by August.