China will increase investment in projects focused on people's livelihood1 in order to stabilize2 growth and facilitate economic restructuring, China's cabinet said Wednesday.
中国政府周三宣布,将会对涉及民生问题的工程追加投资以稳定经济增长并促进经济结构调整。
The central government will invest more in upgrading the power
grid3 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
Premier4 Li Keqiang.
The government
decided5 to
implement6 a three-year action plan to
renovate7 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
sectors8, modern manufacturing and logistics and urban rail
transit9.
The government will encourage financial institutions to
streamline10 loan approval of major
infrastructure11 and Public-Private-Partnership projects.