Beijing will allocate over 128 billion yuan (US$ 15.4 billion) this year for 60 key infrastructure projects to accelerate urbanization.
The funds will be used to complete the Fourth Ring Road, Guang' an Street, and the Capital Museum, renovate the west part of Zhongguancun, and start construction on some expressways and a large water plant.
The municipal government of Beijing will make greater effort this year to rebuild dilapidated housing in the city, decrease pollution and improve traffic infrastructure, said Wang Guangtao, vice mayor of Beijing, Tuesday at a working conference.
In the next five years, 3 million square meters of endangered and dilapidated housing in the city will be demolished or rebuilt, and the reconstruction on some 600,000 square meters of such housing will be completed by the end of this year.
According to the urbanization program, promoting the usage of natural gas as a major fuel, curbing exhaust emissions, paving more roads to form a comprehensive urban traffic system and boosting the development of the IT sector will be on the top priority, Wang said.