Billion yuan

Xiangtan, in Central China's Hunan province, plans to invest 15.5 billion yuan ($2.4 billion) in 16 projects to commemorate the 120th birthday of Chairman Mao Zedong, founder of the People's Republic of China. Fourteen of the projects will be located in Shaoshan, a county-level city under the jurisdiction of Xiangtan and the birthplace of Chairman Mao. The projects include renovating the memorial hall and improving infrastructure for schools and city transport.

(China Daily 09/10/2012 page2)