The Fujian provincial government will issue 8.3 billion yuan ($1.35 billion) (excluding 1.4 billion yuan for the city of Xiamen) in municipal bonds this year. The money includes 1 billion yuan for infrastructure construction in the Pingtan Comprehensive Pilot Zone.

The issuing of the government bonds is part of the province's annual budget approved at the third session of the 12th Fujian Provincial People's Congress concluded on June 1.

The volume is a 38.3 percent increase from last year's 6 billion yuan.

Roughly 3.1 billion yuan of the municipal bonds will be earmarked in construction of transport infrastructure, settlement houses and water conservancy facilities. Among them, 1.3 billion yuan will be used in road/highway construction and 600 million in railway construction.

In addition, 3.7 billion of the municipal bonds will be appropriated for urban construction of new economic zones. Pingtan, Fuzhou and Putian will get 1 billion yuan, 600?million yuan and 500 million yuan, respectively.

Roughly 1.3 billion yuan will be used to boost the development of industrial parks, featuring electronic information, biotechnology, tourism, traditional arts and deep-processing of agricultural products.

The last 200 million yuan will be used to support the construction of public welfare projects in pilot towns across the province.

Edited by Chen Zhilin and Michael Thai