Chinese gov't speeds up infrastructure spending

A government official said Wednesday that the central government had allocated 366.4 billion yuan (57.8 billion US dollars) for infrastructure construction from January to July.

Investment funds in the first seven months accounted for 91 percent of the full-year budget for infrastructure construction, said Minister of Finance Xie Xuren while briefing national lawmakers on the central government's budget performance so far this year.

Xie said funding for new infrastructure projects, as well as those already under construction, has been ensured.

The National People's Congress (NPC) Standing Committee, China's top legislature, began its bimonthly session Monday.