Beijing municipality decided to add 6 billion yuan in government investment in the fourth quarter of this year to the original amount allocated. Wang Haiping, deputy director general of the Beijing Municipal Commission of Development and Reform, revealed on Nov. 19.
The fund will be used for rail transit construction, improvement of unsafe buildings, electric heating of urban single-story houses, promotion of agricultural development and rural construction, as well as the enlargement of the scale of the reassurance fund and guidance fund for small and medium-sized enterprises.
Beijing municipality plans to arrange investments totaling between 120 billion and 150 billion yuan within next two years, which, in turn, are estimated to drive 1 trillion yuan of social investment.
By People's Daily Online
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