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Chinese Government Unveils Final List of Projects Following 1 Trillion Yuan Bond Issuance for Disaster Recovery and Preparedness

Beijing, February 07, 2024, The Europe Today: Chinese government has officially disclosed the third and final list of projects slated for implementation, subsequent to the issuance of an additional 1 trillion yuan (approximately 140.7 billion U.S. dollars) in government bonds. This announcement was made by the National Development and Reform Commission (NDRC), China’s premier economic planning authority.

The comprehensive list comprises over 2,800 projects, with a dedicated allocation of nearly 200 billion yuan derived from the aforementioned bonds. The projects are strategically designed to bolster post-disaster recovery and reconstruction efforts, particularly in north China, with a focus on the critical Beijing-Tianjin-Hebei region. Additionally, the initiatives aim to enhance disaster prevention and mitigation capabilities, along with improving natural disaster emergency response, prevention, and control capabilities.

The NDRC has emphasized that a substantial portion of the allocated funds will be directed towards supporting post-disaster recovery and reconstruction endeavors in the northwestern provinces of Gansu and Qinghai. This initiative aligns with the Chinese central government’s commitment, as declared in October of the previous year, to issue 1 trillion yuan in supplementary government bonds. The issuance commenced in the fourth quarter and serves the dual purpose of supporting the revitalization of disaster-affected regions and elevating the nation’s disaster-relief capabilities.

This far-reaching decision reflects the Chinese government’s steadfast dedication to addressing the aftermath of natural disasters and fortifying its resilience against future challenges. The allocated funds will play a pivotal role in facilitating reconstruction efforts and bolstering disaster preparedness across the specified regions.

The projects outlined in the third and final list encompass a diverse range of sectors, including infrastructure development, public services enhancement, and technology integration, all aimed at creating a more robust and resilient framework for the affected areas. The Chinese government remains committed to transparently implementing these initiatives, ensuring that the funds are utilized judiciously and effectively to bring about positive, lasting change.

This disclosure marks a crucial step in the comprehensive strategy devised by the Chinese central government to mitigate the impact of natural disasters and build a more resilient nation, fostering sustainable development and safeguarding the well-being of its citizens. The NDRC will continue to oversee and coordinate the execution of these projects, collaborating with relevant stakeholders to ensure their successful and timely completion.