Truemors
I am in Shanghai these days. Seeing all the construction around, I am quite wary of the way the city is shaping up, demolishing old neighbourhoods and going highrise. This bit of news about the city's investment in its infrastructure caught my eye.
SHANGHAI will accelerate urban infrastructure construction with a total investment of 500 billion yuan (US$73.22 billion) through 2010.
The massive capital injection was a way to boost internal demand and increase the chances of stable economic growth amid the global financial turmoil, the city's construction and transport authority announced yesterday.
The Shanghai Construction and Transport Commission, overseer of the city's infrastructure development, said it would focus on promoting the planned and ongoing projects in five major areas.
These are:
Building budget houses for low-income families and revamping old complexes
Improving traffic, waste-water treatment and village facilities in the suburbs
Extending rail and highway connections to other provinces in the Yangtze River Delta region
Expanding the city's mass-transit system, including Metros, vehicle tunnels and bike-only roadways
Focusing on projects aimed at reducing energy consumption and waste discharge, including waste-water treatment and garbage-burning factories.
These projects, with a total investment of 500 billion yuan, are due for completion before 2010.
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