China's National Social Security Fund and China Development Bank have pledged to provide a total of 5 billion yuan (US$732 million) for infrastructure projects, the fund said in a statement on its Website Thursday.
The fund and the state-owned policy bank will authorize several trust companies to manage money that will be used to build a subway in Shenyang City, a development zone in southern Hainan Province, an expressway in Chongqing Municipality and housing in Xi'an City, the statement said. The investment will support the government's 4-trillion-yuan economic stimulus package announced last month.
(Shanghai Daily December 26, 2008)
