China speeds up investment spending to aid economy

China's central government has already spent more than 60 percent of its 2009 investment budget, frontloading spending on everything from infrastructure to education in order to boost growth.

The central government has so far allocated 555.3 billion yuan ($81.32 billion), or 61.2 percent of the investment budget, the official Xinhua news agency quoted Vice Finance Minister Zhang Shaochun as saying.

"The Ministry of Finance has quickened the pace of appropriations so the impact of fiscal spending is felt as soon as possible," Zhang said.

In its budget released in March, the ministry said its 908 billion yuan investment budget would include spending of 208 billion on agricultural infrastructure and 232 billion yuan on roads, railways and other transport-related public works.

BEIJING, May 27 (Reuters)