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Half central funds under China stimulus plan allocated
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Half of the Chinese central government funds of 1.18 trillion yuan (172.6 billion U.S. dollars) promised under last year's economic stimulus package had been allocated through June, the Ministry of Finance (MOF) said on its website Friday.

The ministry said 591.5 billion yuan had been allocated, of which 21.2 percent would go to rural infrastructure, 11.9 percent to medical care, education, public welfare and culture projects and 33.8 percent would help rebuild areas hit by last year's massive earthquake.

In the 4 trillion yuan stimulus package announced last November, 1.18 trillion yuan, or 29 percent of the total, was to come from the central government. The remainder was to be supplied by local governments and the private sector.

The 1.18 trillion yuan is expected to be invested in three batches. A total of 104 billion yuan investment was arranged in the fourth quarter in 2008 and 487.5 billion yuan was planned in 2009. The central government would allocate 588.5 billion yuan in 2010, an MOF official said.

(Xinhua News Agency June 27, 2009)

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