23 Jan '11, 1am

China to invest 4t yuan in water resources

SICHUAN - CHINA will invest four trillion yuan (S$780 billion) on the construction of water resource facilities during the next 10 years, China Business News reported on Friday, citing sources from the Department of Water Resources of Sichuan province. According to the plan, the government will levy 10 per cent of rural land transfer payments on building agricultural water resource infrastructure in the future, the report said. China invested more than 200 billion yuan on water resource facilities in 2010, in which the central government made an investment of 98.7 billion, said Chen Lei, minister of the Ministry of Water Resources. The report also said the multi-trillion-yuan figure is just a gross amount, and the amount of central government's investment has not been decided yet. According to the current policy, the central government would pay 50 per cent of the investme...

Full article: http://www.straitstimes.com/BreakingNews/Asia/Story/STISt...

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