China's 10 steps to boost consumption and growth

Source: Xinhua  |   2008-11-10  |     NEWSPAPER EDITION

CHINA will take 10 major steps to stimulate domestic consumption and growth as it turns to an "active" fiscal policy and "moderately easy" monetary policy, the State Council said yesterday.

The 10 major steps include:

Housing: Building more affordable and low-rent housing and speeding slum clearance. A pilot program to rebuild rural housing will expand. Nomads will be encouraged to settle down.

Rural infrastructure: Speeding up rural infrastructure construction. Roads and power grids in the countryside will be improved, and efforts will be stepped up to spread the use of methane and to ensure safe drinking water. This also involves expediting the North-South water diversion project. Water conservation in large-scale irrigation areas will be strengthened. Poverty relief efforts will be increased.

Transport: Accelerating the growth of the transport network, including more passenger rail links and coal routes. Trunk railways will be extended and more airports will be built in western areas. Urban power grids will be upgraded.

Health and education: Beefing up the health and medical service by improving the grass roots medical system. Accelerating development of culture and education and junior high school construction in rural western and central areas. More special education and cultural facilities.

Environment: Improving environmental protection by enhancing the construction of sewage and rubbish treatment facilities and preventing water pollution in key areas. Accelerating green belt and natural forest planting programs. Increasing support for energy conservation and pollution-control projects.

Industry: Enhancing innovation and industrial restructuring and supporting the development of high-tech and service industries.

Disaster rebuilding: Speeding reconstruction in areas hit by the May 12 earthquake.