Ru­ral ar­eas to get bil­lions to fix in­fra­struc­ture

China Daily (Canada) - - NEWS CAPSULE -

China will in­vest $495 bil­lion (3.4 tril­lion yuan) over the next four years to im­prove in­fra­struc­ture in ru­ral ar­eas, in­clud­ing wa­ter and power sup­plies and roads as the gov­ern­ment seeks to boost in­comes and en­cour­age star­tups.

Tang Ren­jian, deputy di­rec­tor of the Cen­tral Ru­ral Work Leading Group, the top ru­ral affairs de­ci­sion-mak­ing agency, said that the cen­tral gov­ern­ment’s only op­tion is to in­crease in­vest­ment in the agri­cul­tural sec­tor and ru­ral ar­eas in the face of an on­go­ing eco­nomic slow­down.

Tang said the cost of road main­te­nance in ru­ral ar­eas alone could reach 340 bil­lion yuan in the next four years, and so far, author­i­ties have al­lo­cated only one-third of that. To solve the short­age, he said the gov­ern­ment will try to raise funds through pub­lic-pri­vate part­ner­ships and sub­si­dized loans.

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