China has identified other projects in the $140 billion spending plan

China has identified other projects in the $140 billion spending plan

China's top planning agency said on Saturday it had identified a second batch of public investment projects under the bond issuance and investment plan announced in October to boost the economy. It includes flood control and disaster relief programs.

 

With the latest tranche, China has now earmarked 800 billion yuan of its 1 trillion yuan ($140 billion) in the fourth quarter for additional government bond issuance, as it seeks to prop up the flagship economy. Focuses on financial measures.

 

The National Development and Reform Commission (NDRC) said in a statement released in Hanoi that it has identified 9,600 projects with a planned investment of more than 560 billion yuan.

China's economy, the world's second-largest, is struggling to regain its footing after COVID-19 as policymakers struggle with strong consumer demand, weak exports, falling foreign investment, and deepening real estate. Immovables are suffering from crisis.

 

The 1 trillion yuan in additional bond issuance will increase the ratio of China's 2023 budget deficit to 3.8 percent from 3 percent, state news agency Xinhua said.

 

"The construction of these projects will improve China's flood control system, emergency response mechanisms, and natural disaster response capabilities, and better protect people's lives and property," the NDRC said. Gee, that's why it's so important."

The agency added that it will coordinate with other government agencies to ensure that funds are quickly allocated for investment and that high standards of quality are maintained in the construction of the project.

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