Government and Policy

China allocates $22b to fund transport projects

(Xinhua)
Updated: 2011-07-05 16:01

BEIJING - China allocated 139.45 billion yuan ($21.57 billion) from its revenue of vehicle purchase tax to fund key transport projects, the Ministry of Finance said Tuesday.

The fund will support the construction of highways, junction stations and inland waterways. The fund for key projects construction stood at 105 billion yuan while that for other projects was 34.45 billion yuan, the ministry said in an online statement.