China is making significant strides in its national development by allocating a massive 1 trillion yuan (approximately $139 billion) through ultra-long special treasury bonds this year. This financial strategy, unveiled by the National Development and Reform Commission (NDRC), aims to support a range of pivotal projects and programs that will shape the nation's infrastructure and security landscape.
Out of the total funds, 700 billion yuan are dedicated to implementing major national strategies and enhancing security capacities in critical areas. The remaining 300 billion yuan will be directed towards funding equipment upgrades and consumer goods trade-ins, signaling a balanced approach towards both development and economic maintenance.
The initiatives supported by these funds are expansive and impactful. Key projects include the construction of railways, highways, and airports along the Yangtze River, which will not only improve transportation efficiency but also stimulate economic growth in the regions. Additionally, China is investing in high-standard farmlands in northeast China, aiming to boost agricultural productivity and sustainability.
Furthermore, the shelterbelt program will receive substantial funding to expand green cover in northeast, north, and northwest China, contributing to environmental conservation and combating desertification. These projects underscore China's commitment to building resilient infrastructure and promoting sustainable development.
The NDRC has emphasized the importance of meticulous monitoring and evaluation to ensure the swift and effective launch of these construction projects. Starting this year and continuing over the next several years, China plans to issue ultra-long special treasury bonds annually, according to the latest government work report. This ongoing financial support is expected to drive continuous progress in key sectors, positioning China for future growth and stability.
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China allocates 1 trillion yuan ultra-long special treasury bond funds
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