Shanghai government has increased its 2008 budget to reflect a 1.8-billion-yuan (US$263 million) contribution to support reconstruction in Dujiangyan City, one of the cities hit hard by the May 12 earthquake in Sichuan Province.
The move was approved yesterday by the Standing Committee of the Shanghai People's Congress. The adjustment follows a state order that major cities and provinces must contribute no less than 1 percent of their fiscal revenue in the first half of the year.
Shanghai plans to donate about 8 billion yuan to Dujiangyan through 2010.
The relief funds come from the budget of the city government and district-level governments, and donations from private sources and enterprises. The city's share will be drawn out of a 10.3-billion-yuan reserve fund set up in 2007.
"This is the first time that the municipality has readjusted its city-level budget," said Ren Lianyou, director of the Standing Committee's Budget Work Committee.
Under the change, 2008 spending rose to 96 billion yuan while revenue remained at 122 billion yuan.
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City funds Sichuan recovery effort
Date: 2008-8-22 09:23 | Author: webmaster | From: 本站原创 |
