15 Aug 2008

China quake work to cost $US150b

10:02 am on 15 August 2008

China says $US145.7 billion is needed to rebuild the region devastated by the Sichuan earthquake on 12 May.

The amount is more than one-fifth of the government's tax revenue in 2007. The sum will be used to rebuild schools, hospitals and housing in the 51 worst-hit areas.

More than 70,000 people were killed by the earthquake. Another 18,000 are missing.

Five million people were made homeless.

In a draft report, the National Development and Reform Commission said one trillion yuan ($US145.7b) was needed to fund reconstruction efforts.

China Daily quoted the report as saying about 3,400 primary schools will be rebuilt in Sichuan, Gansu and Shaanxi provinces. Safety standards will be improved at another 2,600 schools.

The report also said three million houses are needed in rural areas and almost one million urban apartments, while jobs need to be provided for one million people.