Funds being arranged

CHINA will arrange 70 billion yuan (US$10.3 billion) for its third batch of stimulus investment, said a Beijing-based newspaper, citing an unnamed economic planning official.

The new investment would fall short of the previous amount and market expectations of a larger amount of investments, said the Economic Observer.

The central government has so far cashed in a combined 230 billion yuan for its 4-trillion-yuan stimulus package announced in November to bolster the economy, 100 billion yuan in the fourth quarter last year and 130 billion yuan in the first quarter this year.

"The third batch of investment is being arranged, and the total amount is about 70 billion yuan," the official of the National Development and Reform Commission told the newspaper.

"There could be slight adjustments to the final plan," said the official. The final plan would be announced within a week, the newspaper reported on Friday.

New investments would go to projects that benefit the people and infrastructure, said the official.