A budgetary investment of 382.6 billion yuan ($52.89 billion) by the central government this year has been approved by the State Council, China's Cabinet. That was slightly down from last year's 392.6 billion yuan, but the investment is more focused on people's livelihood, Shanghai Securities News reported Tuesday.

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The investment in rural livelihood and infrastructure projects this year will reach 139.7 billion yuan, accounting for more than one third of the total budget. The investment in low-income housing projects will reach 55.2 billion yuan. The budget for energy-saving, environmental protection and ecological construction tops out at 44.9 billion yuan. This year the central government will allocate 61.5 billion yuan in education and health care, 27.5 billion yuan for independent innovation and structural readjustment, and 22.5 billion yuan in major infrastructure investment, according to the newspaper.

As the investment in low-income housing and rural infrastructure increases, the budget for infrastructure – such as railway construction – will be reduced. The country encourages such industries to draw support from investors and market financing in order to cut down the government's budgetary investment, the newspaper reported.

The central government will also continue to distribute 200 billion yuan in local government bonds to ensure project construction, according to the newspaper.