China has invested 654.5 billion yuan (US$96.3 billion) for rebuilding the areas worst hit by a devastating earthquake in 2008, or 65.5 percent of the total planned investment, Premier Wen Jiabao said Friday.

Last year, the central government's public investment was 924.3 billion yuan, 503.8 billion yuan more than in the previous year's budget.

"Of this, ...14 percent (was invested) in post-Wenchuan quake recovery and reconstruction," Wen said in his government work report to the annual session of the National People's Congress (NPC), the country's top legislature.

The rebuilding of rural houses was "basically completed," rebuilding and reinforcing of urban houses were "fully carried out," and building of schools, hospitals and infrastructure "proceeded smoothly," according to a report delivered Friday by the National Development and Reform Commission to NPC deputies for deliberation.

"Thanks to the government's strong support, the selfless assistance of people throughout the country, and the hard work of residents of the quake area, the badly damaged areas have taken on a brand-new appearance, with new towns rising straight out of the ground, and villages brimming with vitality," Wen said.

"All this fully reflects the boundless love of the Chinese nation and powerfully demonstrates the incomparable superiority of the socialist system," he said.

"We will steadily move forward with the recovery and reconstruction of quake-hit areas (this year), and make sure quality and quantity targets are met."

The 8.0-magnitude quake centered in Wenchuan County in southwestern Sichuan Province on May 12, 2008 left 87,000 people dead or missing and millions homeless.

In terms of the intensity and scope of destruction, the quake is believed to have surpassed the 7.8-magnitude quake in 1976 in Tangshan, northern Hebei Province, which claimed more than 240,000 lives.

This year, the central government plans to allocate funds totaling 97.443 billion yuan for post-Wenchuan quake recovery and reconstruction, which will be used for infrastructure construction, industrial rebuilding, improving the ecosystem, and disaster preparation and mitigation, according to a budge report issued Friday by the Finance Ministry to NPC deputies for deliberation.

This figure, together with the 74 billion yuan appropriated in 2008 and the 130.451 billion yuan appropriated in 2009, adds up to 301.894 billion yuan, "meeting the target set for the central government's financial support for post-Wenchuan quake recovery and reconstruction," the report says.

"Premier Wen's report is very inspiring," said NPC deputy Hou Xiongfei, also a publicity official from Sichuan.

Wen put forth a goal in last year's government work report to strive to basically reach the reconstruction targets in two years that had originally been set for three.

"Judging from the current speed of reconstruction, I think the target can be met," Hou said.

By the end of January, 28,200 reconstruction projects had been started, accounting for 94.89 percent of the total. Of this, 21,900 had been finished, accounting for 73.88 percent of the total, Hou said.

"In post-quake rebuilding, the government has always placed top priorities on the reconstruction of rural and urban permanent houses, schools, hospitals, rehabilitation centers and other public institutions," he said.?