The Chinese central bank said Wednesday the State treasury fund for projects to improve people's livelihood, infrastructure, ecological environment and post-disaster reconstruction, would go directly to final recipients.
Su Ning, vice governor of the People's Bank of China (PBOC), said the central bank would study new methods to let the State treasury play a better role in supporting the country's policies to sustain the economy.
He said the State treasury would continue increase direct financial aid to agriculture-related and disaster-relief projects.
The central bank, responsible for managing the treasury, would ensure the money be put in the right place in time and would simplify treasury procedures of customs tax rebates.
Usually, the State treasury fund would first go to units that submitted budgets. Most of them were governments at all levels.
(Xinhua News Agency December 18, 2008)
