The giant Three Gorges Project has succeeded in staying within budget and time limit, said a senior manager with the China Yangtze River Three Gorges Project Development Corporation on Tuesday.
Li Yong'an said many massive infrastructure projects in China in the 1970s had suffered from overspending and time overruns due to the weak economy and poor management.
The Three Gorges Project has been carrying out in a more market-oriented manner and has the advantage of enough funding from the government, he said.
Li also attributed the effective control to scientific management and profit orientation.
He said, "The total investment will probably cut 20 billion yuan (US$2.4 billion) from the budget."
The project on the world's third largest waterway, the Yangtze River, has so far received an investment of more than 40 billion yuan (US$4.8 billion).
(People's Daily November 6, 2002)
