China to expand effective investment

China will expand effective investment and leverage government investment instruments of all types, create greater synergy between fiscal and financial policies, expand project reserves, and ensure the supply of production factors with a focus on national development strategies and the needs of the people, according to a government work report submitted on Wednesday to the national legislature for deliberation.

Chinese Premier Li Qiang delivered the work report on behalf of the State Council at the opening meeting of the third session of the 14th National People's Congress in Beijing.

This year, 735 billion yuan (about $100 billion) will be earmarked in the central government budget for investment, the report said, adding that the country will put ultra-long special treasury bonds to good use, and increase ultra-long-term loans and other types of financing support.