China releases stimulus spending data

BEIJING, (Asia Pulse) – China’s economic planning body
released a breakdown Thursday of how the government’s 4
trillion yuan (US$586 billion) of stimulus funding was being
spent. Since the stimulus package was unveiled in November, 230
billion yuan had been used as of the end of April, the National
Development and Reform Commission (NDRC) said on its website.

According to the commission, 214,000 units of low-income
housing were completed, with construction started on another
650,000 units.

About 14.6 million people have access to safe drinking water
and 20,000 kilometers of new roads were completed in rural
areas.

The money also went to the completion of 445 kilometers of
highways and 100,000 square-meters of terminal buildings.

Some 6,500 health service projects to improve public health
and education were funded.

The commission said 1.18 trillion yuan, or 29 percent of the
total package, was offered by the central government. The
remaining fund will be supplied by local governments and the
private sector.

Yan Yiming, a Shanghai lawyer specializing in securities,
requested the Ministry of Finance (MOF) and NDRC publicize the
detailed ex