China injects 120.7 bln yuan in forestry


China injected 120.7 billion yuan (19.15 billion U.S. dollars) into the forestry sector in 2011, seeing a year-on-year growth of 27.3 percent, the Ministry of Finance (MOF) said Monday.

The government significantly supported in 2011 to build ecosystems of forests, wet lands and deserts as well as protect biodiversity, the MOF said.

The MOF said the money was mainly aimed at key ecological areas in 451 counties.

The central government had also cut income tax, value-added tax and duty for forestry projects to boost growth, the MOF said.