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China announces new policies to expand consumption

(chinadaily.com.cn)
Updated: 2008-11-14 19:10

China has announced new policies to expand consumption and promote stable economic development.

These policies were decided at a State Council meeting on Wednesday and include large infrastructure projects, higher export rebates and adjusted export tariffs. The infrastructure projects include a gas pipeline between China's western region and the economic hubs of Guangzhou and Hong Kong.

This will involve an investment of 93 billion yuan. The State Council also approved over 95 billion yuan for nuclear power plant expansions.

These expansions will take place in the eastern province of Zhejiang and the southern province of Guangdong. It also approved another 17.4 billion yuan for projects such as the water conservancy project in the Xinjiang Uygur Autonomous Region.

The meeting also outlined policies to further support ecological reconstruction.

The central government has singled out forestry as an important sector for rebuilding. Building up the forests will benefit farmers and bolster the environment in the quake-hit regions.