China to spend 1 trillion yuan for SichuanNovember 10th, 2008 - 9:50 am ICT by Amrit Rashmisrisethi
Sichuan will take over three years to rebuild areas ravaged by the massive earthquake or known as the “Great Sichuan Earthquake”, which measured at 8.0 Richter Scale and China will be spending 1 trillion yuan (S$217.5 billion).
The earthquake on May 12 killed 80,000 people 374,176 injured, with 18,222 listed as missing and left about 10 million homeless as whole villages were razed across a broad swath of south-west China.
The budget, allocated to 51 of the hardest-hit counties in Sichuan, Shaanxi and Gansu provinces, would include 120 billion yuan for health, education and other basic services.
The other funds will be sub-divided among housing construction, industrial development, environmental protection including a multi-billion yuan railway connecting Sichuan capital Chengdu with the quake-damaged town of Dujiangyan.
China plans to spend 5 trillion yuan on roads, waterways and ports in the next five years, a huge increase over initial budget plan of 2 trillion yuan.