On February 24, reporters learned from the Provincial Development and Reform Commission that “Regulations on the Final Acceptance of State-funded Projects in Zhejiang Province” will be put in effect from March 1.
The newly-released Regulations has solved the long-standing lack of standards for the final acceptance of state-funded projects in Zhejiang. A leading official of the provincial Development and Reform Commission said that the perfection of final acceptance system is contributive to enhancing and standardizing such stages of state-funded projects as planning, management, completion and acceptance, and strengthening the supervision of state-funded projects during and after the construction process, thus providing better management and services for the projects.
It is learned that there were a total of 154 provincial government-invested projects in Zhejiang in 2016; of the total investment of 983.476 billion yuan, 59.699 billion yuan were from the central government, 67.828 billion yuan from the provincial financial budget and 855.949 billion yuan were self-raised funds or loans from banks.