(MENAFN) China's Ministry of Finance stated that during the current year, the government will earmark USD19.11 billion to finance transport infrastructure construction, reported Xinhua News.
During the past few months, the government has boosted its efforts to improve infrastructure investment, in order to shore up the country's sluggish economic growth, which contracted to less than 8 percent in 2012.
In the June-December period of 2012, Chinese authorities endorsed massive construction projects worth nearly USD158 billion.
It is worth noting that the government will collect the USD19.11 billion from vehicle purchase tax incomes.
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