Related News
Rail construction budget up
By Richard Fu |
September 5, 2012, Wednesday
|
Print Edition
Print Edition
CHINA'S railway authority has raised the full-year spending budget on railway construction to 496 billion yuan (US$78 billion), the latest state effort to stimulate economic growth, an industry executive said yesterday.
To meet the new target, the Ministry of Railways is mandating that railway spending be at least 67 billion yuan per month until the end of the year, Bai Zhongren, president of China Railway Group Ltd, said in Hong Kong yesterday.
The increase was the second since July, when the ministry raised the budget for rail infrastructure construction this year to 470 billion yuan from 406 billion yuan. Spending in 2011 was 461 billion yuan.
Railway investment suffered following a fatal high-speed train crash in Wenzhou in July last year that fueled safety concerns. But the government is again speeding up project approval after China's second-quarter economy grew at the slowest pace in three years.
Bai said the ministry has secured sufficient funding via bank loans and bond issues.
"The acceleration of railway investment will ably support the company's revenue and earnings," Citigroup analysts said in a note. China's railway investment in the first half was only 149 billion yuan.
To meet the new target, the Ministry of Railways is mandating that railway spending be at least 67 billion yuan per month until the end of the year, Bai Zhongren, president of China Railway Group Ltd, said in Hong Kong yesterday.
The increase was the second since July, when the ministry raised the budget for rail infrastructure construction this year to 470 billion yuan from 406 billion yuan. Spending in 2011 was 461 billion yuan.
Railway investment suffered following a fatal high-speed train crash in Wenzhou in July last year that fueled safety concerns. But the government is again speeding up project approval after China's second-quarter economy grew at the slowest pace in three years.
Bai said the ministry has secured sufficient funding via bank loans and bond issues.
"The acceleration of railway investment will ably support the company's revenue and earnings," Citigroup analysts said in a note. China's railway investment in the first half was only 149 billion yuan.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
