NDRC divulges stimulus sources

• Source: The Global Times
• [00:47 May 22 2009]
• Comments

By Tu Lei

The National Development and Reform Commission (NDRC) yesterday released on its website detailed information on the funding sources of the 4-trillion-yuan ($586 billion) stimulus package.

Of the 1.18 trillion yuan ($172 billion) allocated by the central government, the NDRC said the money is from central government investment funds, other central-government-led public investment and earthquake reconstruction funds appropriated by the central government.

The remaining amount is from local fiscal budget, local government bonds, policy credit, corporate bonds, bank loans and private investment

To guarantee the performance of the stimulus plan, the NDRC said central and local governments will set up supervision systems, including special taskforce to coordinate investment, draft supporting policies and audit the process.

However, a researcher from the National Economic Research Institute, who spoke on condition of anonymity, told the Global Times that the most important supervision is to make the investment projects known to the public.

The involvement of ordinary people in the supervision process is more effective than the current supervision system, the researcher argued.