140b yuan agreed for rural Net upgrading

China unveiled plans on Wednesday to upgrade its Internet infrastructure and the development of its logistics industry in rural areas, part of the government's efforts to encourage online spending among rural residents.

The telecommunication upgrade will involve investment of at least 140 billion yuan ($22.1 billion).

An executive meeting of the State Council presided over by Premier Li Keqiang decided to allocate more central government funds to building Internet infrastructure and also advocated funding from local governments and social organizations.