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Construction: China earmarks $9.7b for quake relief

(Xinhua)
Updated: 2008-08-19 09:25

China's Ministry of Finance (MOF) said the country had allocated 66.75 billion yuan ($9.71 billion) for the May 12 quake relief and reconstruction as of Monday noon.

This included 59.74 billion yuan from the central budget and the remainder from local budget, the ministry said on its website.

The MOF said imported materials and equipment targeted at helping quake-hit enterprises would enjoy preferential import tariffs. The grace period, which started on July 1 2008, would run to June 30, 2011. Details of the preferential policy were yet to be revealed.

Overseas donated materials used directly for quake relief efforts during the period of May 12 to August 12 were exempt from import tariffs, according to the MOF.

The earthquake that ripped through southwestern Sichuan had killed 69,225 people in the province and its neighboring region as of Monday.