Hubei lowers minimum capital ratio of infrastructure projects

0 Comment(s)Print E-mail Xinhua, March 20, 2020
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Central China's Hubei province has lowered the minimum capital ratio from 20 percent to 15 percent for infrastructure projects in transportation, urban construction, environment protection and those related to people's livelihood, according to the provincial economic planner.

As a crucial prop for social and economic development, the expansion of effective investment has become particularly important since Hubei experienced hard times due to the COVID-19 outbreak, according to Cheng Yongwen, head of the provincial development and reform commission.

Hubei had seen nearly half of its major industrial enterprises resumed production as of Tuesday, which signaled a further recovery of the province hard hit by the novel coronavirus outbreak.

Cheng added that the commission has jointly launched a special financing campaign with the country's policy financial institutions to further support production resumption by setting up a special fund worth 200 billion yuan (about 28 billion U.S. dollars).

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