The Shenzhen Municipal Government will spend a total of 27.9 billion yuan (US$3.48 billion) on key projects in 2007, an increase of more than a quarter over the previous year.

Schools, hospitals, the environment and key transport projects are among the beneficiaries of the planned investment.

The Standing Committee of the Shenzhen Municipal People's Congress approved the budget Wednesday, which includes 9.45 billion yuan from the treasury, 13 billion yuan in the form of land resources funds and 5 billion yuan in bank loans.

The budget for the first time also included 480 million yuan in income from road use fees, road and tunnel construction funds and sea exploitation fees.

The legislators convened a meeting Wednesday to arrange funds for 41 urgent projects, which are now under construction.

Among the projects, planting of 5,200 hectares of forests in all six districts will cost 100 million yuan and 120 million yuan will be invested in an F1 motorboat venue in Nanshan District.

A part of the funding will be used on public health facilities. A total of 300 million yuan will be spent on the Yantian District People's Hospital, the No. 3 People's Hospital and the city's center for disease control and prevention.

A total of 220 million yuan will be spent on eight school facilities including the senior high department of Bibo Middle School in Luohu District, the Xinjiang students' department in Songgang Middle School and Shajing Middle School in Bao'an District, and Pinggang Middle School in Longgang District.

Another 450 million yuan will be allocated to key public transport projects including Metro Line 3 and the Shenzhen-Huizhou Expressway. 

Editor: Yan