Arab Today, arab today chinese pm courts private investment in railways
Last Updated : GMT 02:34:15
Arab Today, arab today
Arab Today, arab today

Chinese PM courts private investment in railways

Arab Today, arab today

Arab Today, arab today Chinese PM courts private investment in railways

Chinese Premier Li Keqiang
Beijing - XINHUA

Chinese Premier Li Keqiang wants to see more private investors involved in railways, the central government's website reported on Sunday.
Railways stabilize economic growth, enhance social harmony and will help urbanization, said Li during an inspection of the China Railway Corporation (CRC) on Friday. 0 "But railways paid for solely by the government and managed by administrative order must become a thing of the past," said the premier, encouraging the CRC to seek innovative sources of new investment, key to railway reform.
China has spent vast sums on railways in recent years. Changing the way they are financed is very high on the government's to-do list.
The State Council came up with an action plan on railway financing in April, deciding to set up a fund open to private investment. The fund value is expected to reach 300 billion yuan (48.6 billion U.S. dollars). In addition, 150 billion yuan of railway bonds will be issued this year, with overtures being made to banks to encourage them to fund railway projects. Central and western regions will be the top priority.
Shortly after the State Council meeting, the CRC raised the bar on railway investment for 2014 to 800 billion yuan, hoping to bring over 6,600 kilometers of new track online.
"People in these (central and western) areas are eagerly looking forward to new railways, which will narrow the gap between the west and the east and bring them into the center of our nation's modernization process," said Li.
According to HSBC chief China economist Qu Hongbin, China's rail freight accounts for a quarter of the world's total and passenger traffic is even busier, but, in terms of actual track, China has only six percent of the world's lines.
"Relatively weak railway capacity resulted in too much road traffic, which greatly increased logistical and environmental costs," said Qu.
A disastrous bullet train crash in July 2011 brought an atmosphere of unprecedented caution to rail construction in China. Since then, it has become clear that the speedy development of the sector will fuel economic expansion, while benefiting the people by making it quicker and easier to get about.
Railways are fundamental to China's development and their purpose cannot be achieved in any other feasible way, said Li.
"We should turn the great potential of railways into real productivity and make the sector a new engine of change," said the premier.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinese pm courts private investment in railways Arab Today, arab today chinese pm courts private investment in railways

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday