BEIJING, June 17 -- China will increase investment in projects focused on people's livelihood in order to stabilize growth and facilitate economic restructuring, China's cabinet said Wednesday.
The central government will invest more in upgrading the power grid in rural areas, building grain storage and sewage disposal facilities, relocating old urban industrial zones and other projects, according to a statement released after an executive meeting of the State Council, China's cabinet presided over by Premier Li Keqiang.
The government decided to implement a three-year action plan to renovate 18 million dilapidated urban houses and 10.6 million dilapidated rural houses.
In addition to construction projects such as railway and water conservation projects, the government will roll out projects in emerging sectors, modern manufacturing and logistics and urban rail transit.
The government will encourage financial institutions to streamline loan approval of major infrastructure and Public-Private-Partnership projects.
Chinese students learn Duanwu customs in Hefei, Anhui
Abandoned village swallowed by nature
Graduation: the time to show beauty in strength
School life of students in a military college
Top 16 Chinese cities with the best air quality in 2014
Mysterious “sky road” in Mount Dawagengzha
Students with Weifang Medical University take graduation photos
PLA soldiers conduct 10-kilometer long range raid
Stars who aced national exams
New PLA campaign targets new recruits
Island construction can benefit wider region
Market studies
Zen harvest for Shaolin monksDay|Week
