Business / Economy

China pumps money into rejuvenating northeast

(Xinhua) Updated: 2015-08-01 13:42

BEIJING - China's top economic planner has allocated 50 million yuan ($8.2 million) to fund major projects in the country's northeast to assist the area's stuttering economy, it announced Friday.

The money will be used for infrastructure, social welfare and environmental protection in Liaoning, Jilin and Heilongjiang provinces as well as Inner Mongolia autonomous region, said the National Development and Reform Commission (NDRC).

The projects include construction of several railways, protection of the Hulun Lake area and renovation of traditional industrial bases, said the NDRC.

The northeast is a center for grain production, heavy industry and energy resources in China. Many cities there face challenges as their energy resources are depleted and heavy industries face the burden of restructuring.

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