/ world today news/ The State Development and Reform Commission (SDRC) has announced the first group of projects that will receive support from additional government bonds in 2023, prioritizing the recovery of the Beijing-Tendjin-Hubei region after this year’s summer floods.
The government earlier approved a plan for post-disaster recovery and reconstruction and improving the ability to prevent and reduce future problems in northern China, focusing on supporting the most flood-affected parts of the Beijing-Tianjin-Hubei region.
The first group includes nearly 2,900 projects. Among them are over 1,500 projects related to flood recovery, reconstruction and improving the ability to prevent and reduce natural disasters. In addition, there are more than 1,300 projects supporting the construction of high-standard agricultural land in Northeast China and the Beijing-Tianjin-Hubei region, indicating significant support for these areas.
On October 24, the government announced a plan to issue an additional 1 trillion yuan ($139 billion) worth of bonds in the fourth quarter of 2023 to help rebuild disaster-stricken areas and boost the country’s disaster relief capacity . The processes of issuing the securities will be transferred to the local authorities.
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