By staff reporter Wang Changyong

(Caijing.com.cn) Who will fund the 4-trillion yuan stimulus package?

The central government will provide 29.5 percent of its 4 trillion yuan stimulus package, with the remainder to be drawn from local governments and private companies, said a government statement on May 21.

The statement issued by the National Development and Reform Commission gave details, for the first time, of the package announced last November that aims to jumpstart the country’s slowing economy as the global downturn hit.

The central government will draw 1.2 trillion yuan from four budget areas to finance investments under the plan, according to the statement.

The NDRC also gave a breakdown of the investment areas included in the plan and reported progress made on some of the projects.

Infrastructure is the biggest recipient of the funding, with 1.5 trillion yuan, or 37.5 percent, to be spent on construction projects.

The government has also earmarked 1 trillion yuan, or 25 percent of the package, for post-earthquake reconstruction work in the southwestern Sichuan province.

Chick to enlarge

The NDRC said it has already completed some projects included in the stimulus plan. Around 214,000 affordable housing units have been built, drinking water has been provided for 14.6 million people in rural areas, and about 445 km of new highway has been completed.

Full article in Chinese: http://www.caijing.com.cn/2009-05-22/110169861.html