People's Republic of China

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Located in the east of the Asian continent, on the western shore of the Pacific Ocean, the People's Republic of China (PRC) has a land area of about 9.6 million square kilometers, and is the third-largest country in the world. The PRC is a country with a very early civilization and a long, rich history. The country has become one of the world's major economic powers with the greatest potential.

Source: Official web portal of the Central People's Government of the People's Republic of China

SPOTLIGHT

The CAREC Program focuses on two of PRC's autonomous regions—Xinjiang Uygur and Inner Mongolia. Xinjiang is located in northwestern PRC and covers one-sixth of the country's territory. Xinjiang served as the key controlling section of the well-known Silk Road, while now it is part of the railway leading to the second Eurasia Continental Bridge. Situated on PRC's northern frontier, Inner Mongolia shares a 4,220 km. borderline with Mongolia and Siberia. It is a major stockbreeding center known for its Sanhe horses and oxen and fine wool sheep. It has significant coal reserves and large mineral deposits.

Feature

Loan for Xinjiang’s water conservation project: The World Bank approved a $100-million loan for the Xinjiang Turpan Water Conservation Project, which is designed to support the central government’s efforts to reverse the deteriorating water situation and improve water resources management in the arid Turpan Basin. Read more.

Economic Outlook

The highlight from the Asian Development Outlook 2010:
A V-shaped economic recovery in 2009 was underpinned by very expansionary fiscal and monetary policies. Strong investment and, to a lesser extent, growth in consumption largely offset the impact of shrinking external demand. Allowing for some adjustments, expansionary policies will continue this year. Coupled with a stronger global economy, GDP growth is forecast to accelerate. Inflation will rise from low rates. A new five-year plan provides an opportunity to revamp the structure of growth, in particular to encourage increases in private consumption. Read more.

3.9.4 Total Investment