Chinese premier stresses flood control, post-disaster recovery

BEIJING -- Chinese Premier Li Keqiang on Wednesday stressed efforts in flood control and disaster relief as well as post-disaster recovery to support production restoration in disaster-stricken areas and ensure people's livelihood.

Li made the remarks while presiding over an executive meeting of the State Council.

A total of 100 billion yuan (about $14.48 billion) will be allocated from central and local fiscal for post-disaster recovery and reconstruction, while a mechanism will be established to ensure the funds go straight to the disaster-stricken areas, according to the meeting.

Funds raised through special government bonds and local government bonds are allowed to be used for post-disaster recovery and reconstruction, the meeting said.

Specific measures will be introduced to guide state-owned financial institutions and rural credit cooperatives to increase their support for post-disaster recovery of protected agriculture.

The fiscal and financial support for enterprises should go in line with more streamlined administration and improved government services so that market vitality could be further unleashed.

New measures should be rolled out to lower the entry threshold for companies and optimize services, said the meeting.