China channels 755-billion-yuan central budget investment to underpin livelihoods, growth

China has disbursed all of its 755-billion-yuan (111.2 billion U.S. dollars) central budget investment for this year, with a strong emphasis on livelihoods and disaster relief, the National Development and Reform Commission (NDRC) said on Friday.

Since the flood season, 14 emergency batches totaling 750 million yuan were allocated for post-disaster recovery of infrastructure and public service facilities, NDRC spokesperson Jiang Yi told a press conference.

Separately, 39.5 billion yuan in work-relief programs funded over 7,800 projects, employing 1.5 million people and generating an income of more than 10,000 yuan per person, boosting both employment and social welfare, Jiang said.

For the rest of the year, the commission will focus on four areas to make macro policy more effective, according to NDRC official Zhou Hongwei. Authorities will enhance policy effectiveness and improve policy coordination by making full use of existing policy tools, strengthening counter-cyclical adjustments, and promptly rolling out incremental measures.

Efforts will also focus on expanding domestic demand by enhancing people's wellbeing, optimizing the structure of government investment, and boosting consumption. New growth drivers will be cultivated through integration of technological innovation with industrial innovation, and strengthening long-term and stable support for basic research.

To further strengthen economic resilience, the country will coordinate development and security by reinforcing safeguards in key areas, such as ensuring food and energy supply, securing critical industrial and supply chains, and stepping up flood emergency response and disaster relief efforts. ■