All units of the Baihetan hydropower station are operational since December 20, 2022, a major step forward for the world's second-largest in terms of total installed capacity. Photo shows the Baihetan Dam opened to release water in June 2022. Photo: Lin Xiaoyi/GT

The National Development and Reform Commission (NDRC), China’s top economic planner, has unveiled the first batch of projects which will receive support from additional government bonds in 2023, placing priority on reviving Beijing-Tianjin-Hebei Region post-flooding recovery and reconstruction, the NDRC said on Wednesday.

The State Council, the cabinet, approved the Plan for Post-Disaster Recovery and Reconstruction, and Enhancement of Disaster Prevention and Reduction Capabilities in the North China Region, placing its focus on supporting the flooding-hit Beijing-Tianjin-Hebei Region in summer this year.

Aligned with the plan, NDRC issued the first group of projects, adding that priority must be given to ensuring the utmost protection and restoration of public assets such as schools and hospitals, as well as critical infrastructure including transportation and water resources projects.

In terms of enhancing regional disaster prevention, reduction and relief capability, the selected projects will be advanced in stages as they mature. Accelerating the implementation of projects like the upgrading of the Haihe River flood control and disaster reduction system, and the reinforcement of high-risk reservoirs in the region is a priority, NDRC said.

The Haihe River is the largest river system in northern China, flowing to the Bohai Sea through Tianjin city, and one of the seven major rivers in the country.

For projects where preliminary work is accelerating, relevant departments such as the NDRC, the Ministry of Finance, and the Ministry of Natural Resources will increase guidance and coordination with local governments.

The first batch includes nearly 2,900 projects, China Media Group (CMG) reported, citing Han Zhifeng, deputy head of the NDRC's investment department.

Among them, there are over 1,500 projects related to post-flooding recovery, reconstruction, and the enhancement of disaster prevention and reduction capability. Additionally, there are more than 1,300 projects supporting the construction of high-standard farmland in Northeast China and the Beijing-Tianjin-Hebei Region, indicating substantial support for these areas.

On October 24, the Chinese central government announced plans to issue one trillion yuan ($139 billion) in additional central government bonds in the fourth quarter of 2023 to support the rebuilding of disaster-hit areas and raise the country's disaster relief capability.

The processes of the bonds will be transferred to local governments. A total of 500 billion yuan will be deployed this year, and another 500 billion yuan will be transferred next year. The funds will be utilized in eight major areas, including rebuilding disaster-hit areas, key flood control projects, natural disaster emergency capacity improvement, and urban drainage and waterlogging prevention and control.

Global Times