On Saturday, the top planning body in China said that it has identified a new group of public investment projects it will fund under a bond issuance and investment initiative announced in October to boost the economy, and they will include flood control and disaster relief programs.

As China examines its fiscal policies which are designed to support the Chinese economy, the latest release of funds by China will have earmarked over 800 billion yuan out of the 1 trillion in additional government bond issuance for the fourth quarter.

In its statement Saturday, the National Development and Reform Commission (NDRC) noted it had planned out over 560 billion yuan in investments it would spread over 9,600 projects.

China’s post-Covid-19 economy has been marred by tepid consumer demand, weak exports, diminishing foreign investment, and a steadily worsening property crisis. Now policymakers are grappling with how to reinvigorate the economy while avoiding the many pitfalls which lie before them.

According to an analysis by China’s news agency, China’s 2023 budget deficit ratio will widen to about 3.8% from 3% following the 1 trillion yuan in additional bond issuance.

The NDRC said, “Construction of the projects will improve China’s flood control system, emergency response mechanism and disaster relief capabilities, and better protect people’s lives and property, so it is very significant.”

The agency noted it will be coordinating with other government agencies, to confirm allocated funds are delivered quickly and all projects and construction maintain the highest standards of quality.