The State Council said the first batch of spending would total $18 billion in the last quarter of 2008. They also expect that the influx of government funding would lead to an additional $59 billion in private investment.
The ten areas include: housing, rural infrastructure, transportation, health and education, environment, industry, disaster rebuilding, incomes, taxes, finance.
Housing: Building more affordable and low-rent housing and speeding the clearing of slums. A pilot program would be instituted to rebuild rural housing. Migrants would be encouraged to settle down through incentive programs.
Rural infrastructure: Speeding up rural infrastructure construction. Improvement of roads and power grids in the countryside. Increasing the use of methane. Ensuring the purity of drinking water. Expediting the North-South water diversion project. Reinforcing deteriorating reservoirs. Increased water conservation in large-scale irrigation areas. Increased spending on poverty relief.
Transportation: Accelerating the expansion of railways including building a larger number of dedicated passenger rail links and coal routes. Increased airport construction in China's western regions. Upgrading of urban power grids. Building more subway lines and roads.
Health and education: Greater spending on heath care services in rural areas. Increased spending on education and more construction of junior high schools in rural areas in central and western China. Increased construction of special education and cultural facilities.
Environment: Improving environmental protection by enhancing the construction of sewage and waste treatment facilities and preventing water pollution in key areas. Accelerating greenbelt and natural forest planting programs. Increasing support for energy conservation and pollution-control projects.
Industry: Enhancing innovation and industrial restructuring and supporting the development of the high-tech and service industries.
Disaster rebuilding: Speeding reconstruction in the areas hit by the May 12 earthquake in Sichuan Province.
Incomes: Raise average incomes in rural and urban areas. Raising 2009 minimum grain purchases and farm subsidies. Increasing subsidies for low-income urban residents. Increasing the number of pension funds for company employees and allowances for those receiving special services.
Taxes: Extended reforms in the value-added tax rules to all industries, which could cut the tax corporate burden by 120 billion yuan (about 17.6 billion U.S. dollars) and allow all companies in China to deduct spending on capital equipment. Technological upgrades will be encouraged.
Finance: Remove loan quotas on commercial lenders to channel more lending to priority projects. Increasing bank credit for priority projects, rural areas, small businesses. Transferring production to create economic efficiency through mergers and acquisitions.