In a significant move to bolster national development, China will allocate approximately $100 billion (735 billion yuan) from the central government budget for strategic investments in 2024. This initiative aims to enhance the synergy between fiscal and financial policies, expand project reserves, and ensure a steady supply of production factors tailored to national development strategies and the needs of the people.
Chinese Premier Li Qiang presented the comprehensive work report on behalf of the State Council during the opening meeting of the third session of the 14th National People’s Congress in Beijing. The report emphasizes the utilization of ultra-long special treasury bonds and the increase of ultra-long-term loans among other financing supports to drive economic growth and innovation.
This strategic investment plan reflects China’s commitment to fostering sustainable economic development and addressing the evolving demands of its population. By leveraging diverse government investment instruments, China aims to create a robust foundation for future growth and stability.
Reference(s):
cgtn.com
