Quake-hit Sichuan faces financial gap for rebuilding

(Xinhua)
Updated: 2008-09-08 11:45

Quake victims collect the remaining belongings in their shattered houses in the quake-hit area of Huili County, southwest China's Sichuan Province September 3, 2008. [Xinhua]

XIAMEN -- China's southwestern province of Sichuan needs 1.67 trillion yuan (about $245.6 billion) for reconstruction after the devastating earthquake on May 12, Huang Xiaoxiang, the province's vice governor, said on Sunday.

"Sichuan is still in need of a large amount of fund despite the efforts of the central government, local governments and other social sectors," Huang told a conference held in Xiamen City, in eastern Fujian Province.

The total funds, including those raised by the central and other provincial governments, overseas donations, and lottery earnings, accounted for less than 25 percent of what the reconstruction work demanded.

Huang said the province would rebuild 4.5 million urban and rural homes, 51,000 km of highways, 5,500 km of railways, 11,700 schools and 9,700 medical institutions.

Apart from that, 2,000 reservoirs, 810 power stations and more than 100,000 hectares of farmland needed to be restored.

The reconstruction work was expected to consume 37 million tonnes of steel, 370 million tonnes of cement, 210 billion bricks and 20 million cubic meters of timber.