China to Invest 100 Billion Dollars for Development of Western Regions

For paying more attention towards the domestic demand rise, it has been lately announced by China, that it plans to invest more than 100 billion Dollars in 23 new infrastructure projects in poor western regions of the country, this year.

Following the revelation of the fact that China was in middle of a very complicated time in terms of economy by Premier, Wen Jiabao on Monday, the investments were made public.

Another thing that triggered the declaration was the result of two purchasing manager surveys, which unveiled that the manufacturing activity in the country were slow for the month of June.

It was informed at the website of National Development and Reform Commission, that 682.2 billion Yuan will be spent for erecting railways, roads, airports, nuclear power stations, power grids and coal mines.

According to the top economic planning agency, the work for the construction of these facilities will start this year. This will help expand the domestic demand and will also aid the promotion of the fast and healthy development of the western areas of the nation, stated the agency.

The areas that will benefit from this proposed investment will encompass northwestern region of Xinjiang, Inner Mongolia, Sichuan, southwest Yunnan and Tibet.

China has been longing for developing these economically weaker western areas and earlier also 2.2 trillion Yuan were spent on 120 major projects, between 2000 and 2009.