Road Construction to Accelerate in Central, West China
   2013-07-29 18:19:58    Xinhua      Web Editor: Jiang

Related: China to Fully Open Railway Construction Market

                China to Spend Trillions on Pollution Battle

Road construction in China's central and western regions will speed up following a central government vow to boost the expansion of the railway sector, the China Securities Journal reported Tuesday.

Several provincial-level regions, including Yunnan, Hubei, Hunan, Jiangxi, Tibet, Xinjiang and Sichuan, plan to build new highways in city clusters and rural areas, according to the newspaper.

In Tibet, authorities will spend 200 billion yuan (32.3 billion U.S. dollars) to build a road network centered around the regional capital of Lhasa over the next five to eight years, as well as extend the combined length of the region's highways to over 110,000 km.

The construction projects will be funded using multiple channels, including fiscal investment and corporate bonds.

The central government has allocated 66.9 billion yuan to build new national- and provincial-level roads, as well as defense highways, the Ministry of Finance announced Friday.

The government has earmarked 186.9 billion yuan from its income from vehicle purchase taxes to fund transportation projects so far this year. It plans to spend 4.7 trillion yuan to expand the national road network during the 2013-2030 period, according to the ministry.

The National Development and Reform Commission, the country's top economic planner, has recently approved a 8.5-billion-yuan corporate bond issuance by Hubei Provincial Communications Investment Co., Ltd., the largest corporate bond sale of its kind to date, the paper said.

The central government vowed last week to speed up reforms concerning investment and financing in the railway sector, including establishing a railway development fund using government investment and social capital.

Share

               


CRIENGLISH.com claims the copyright of all material and information produced originally by our staff. No person, organization and/or company shall reproduce, disseminate or broadcast the content in any manner whatsoever without the express written permission of CRIENGLISH.com.

CRIENGLISH.com holds neither liability nor responsibility for materials attributed to any other source. Such information is provided as reportage and dissemination of information but does not necessarily reflect the opinion of or endorsement by CRI.

 
Listen
 
 

 
 
Highlights
Media Scan
Seven Sentenced to Death for Drug Smuggling
A court in Shandong has sentenced seven people to death for drug smuggling; three others have been given death with a 2-year reprieve.
Survey Shows Excessive Intake of Aluminum
Residents of northern China and those under the age of 14 may be ingesting more aluminum than healthy.
CHINATALKS
Video
• C4: Bad Boys
Join us for the latest episode of CRI's hilarious comedy news show.
• C4: World Cup Fever
Join us for the latest episode of CRI's hilarious comedy news show.
In Depth

News
China
World
Politics
Business
Sports
Showbiz
Sci-tech
Photo
Recommended
China
World
Sports
Showbiz
Travel
Video
C4
The Sound Stage
Showbiz
Travel
China Revealed
My Chinese Life
Travel
Destinations
Photo Gallery
Recommended
Learn Chinese
"In" Chinese
Chatting in Chinese
Pop Culture
Traditional Culture
Living Chinese
Chinese Studio
Chinese Class
Learn English
Special English
Pop Chart
Everyday English
Fabulous Snaps
CRI News
China.org.cn  | Xinhua  | People's Daily Online   |  CNTV.cn  | China Daily  |  Global Times  | China Job  |  China Tibet Online  | Taiwan.cn  | eBeijing  | Beijing Today  | China-Eurasia Expo  | APEC Yiwu Conference  | Chinese Embassy in S.Africa  | Chinese Embassy in Australia  | Chinese Embassy in NZ