Sichuan Reconstruction Costs $240b

Rebuilding earthquake ravaged Sichuan province is estimated to cost $240 billion, Yi Jun, deputy director of the provincial business attraction bureau, said at the first "New York – Sichuan Financing Seminar" held in Chengdu Monday. 6 US investing institutions and more than 50 local firms attended the meeting. Brean Murray, Carret & Co, an American investment bank, signed $3 billion worth of contracts in the retail, telecoms, internet and media sectors, according to its China president Teng Songge.

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