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Government and Policy

MOF allocates 30b yuan to fund transportation

(Xinhua)
Updated: 2011-06-10 16:46

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BEIJING - The Chinese central government has allocated 32.06 billion yuan ($4.9 billion) to set up a special fund to support major transportation projects across the country, the Ministry of Finance (MOF) said Friday.

The fund will be earmarked to support the construction of roads, transport hub facilities and waterways, said a statement on the MOF's website.

The 32.06 billion yuan in funding came from vehicle purchase taxes, according to the MOF.