China Mobile and Shaanxi provincial government have entered into an agreement, whereby China Mobile will earmark 23 billion RMB (US$3.4 billion; US$1 = 6.8 RMB) for IT network deployment in Shaanxi over the next five years, the Xinhua News reported on June 29. Of the total investment, China Mobile will invest 15 billion RMB (US$2.2 billion) into the construction of a communications network, one billion RMB (US$147.1 million) into key construction projects proposed by the Shaanxi government, and seven billion RMB (US$1.0 billion) for the deployment of rural, social, and government IT networks in the province. The investment is expected to create 30,000 jobs, according to the same source.