China’s government said on 31 December December 31st that it will spend $42bn on transportation, water and energy projects in its latest five-year plan.
The money will go towards building a new airport in Guangzhou and a cross-sea ferry between Zhanjiang in mainland China and Haikou (pictured) in Hainan.
Funding will be spent on water conservancy projects, such as the Nanguaping Reservoir project in Lijiang, Yunnan Province and water resources allocation projects in Liaoning Province.
Energy projects, like the Zhejiang ultra-high-voltage alternating-current ring grid and a hydropower station in Sichuan Province have received approval.
The funding aims to advance China’s 15th Five-Year Plan period, between 2026 and 2030, according to a state press release.
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