Arab Today, arab today chinese pm courts private investment in railways
Last Updated : GMT 18:19:32
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

Investment in railways
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.

 

arabstoday
arabstoday

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

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 France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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