Home>News Center>China
       
 

Private cash to help build railway line
By Cao Desheng (China Daily)
Updated: 2005-02-23 02:07

The first-ever railway to be built with privately invested shares is expected to break ground in East China this year - a key move in the finance and investment system in the previously government-monopolized sector.

Wang Min, director of the Plan-ning Department of the Ministry of Railways, said the Quzhou-Chang-shan railway project in Zhejiang Province has been planned by his ministry and will be built this year.

Changshan Cement Co Ltd, a locally privately-owned company, holds 32.5 per cent shares in the total investment of the railway project, according to Sun Qin, director of the office for the project's preparation.

The other investors are the Ministry of Railways and Changshan County government with the proportion of their share holdings respectively being 35 and 32.5 per cent, Sun said.

The railway sector is among a few of the industries that remain a government monopoly in China.

The construction capital of the nation's railway network mainly depends on government input, including railway construction funds from the central government, the loan from the State Development Bank and economic input from local government.

Only around 1,000 kilometres railways are built every year due to the shortage of capital, which has constituted a bottleneck for the nation's rapid economic growth.

Statistics from the Ministry of Railways indicate the nation's total investment in the construction of railway systems per year is less than 60 billion yuan (US$7.3 billion).

According to the plan, the 45-kilometre railways needs a total of 775 million yuan (US$ 93.7 million) in investment, Sun said.

"The railway project to be built is small in its size and investment, but it is considered a pilot project for reforming the highly-monopolized system of financing and investment system in the sector," he said.

Vice-Minister of Railways Wang Zhaocheng was quoted by Fuzhou-based Dongnan Kuaibao newspaper as saying the project is expected to "create a good experience" for the private capital injected into railway construction.

Since a minor step in the reform of the industry might affect the overall economic development, railway authorities have been too cautious to map out a well-accepted reform programme since the nation proposed the idea of reform in 2000.

Although the Ministry of Railways has been working to improve the efficiency of its railway network, complaints of hesitation in breaking up the monopoly in the sector have often been heard.

The existing system has placed a barrier to more capital in the construction and renovation of the railway network, said Lin Yueqin, an economic researcher with the Chinese Academy of Social Sciences.

Some experts are cautiously optimistic about the project's role in the sector's future reform.

"Time is still needed to examine whether the Quzhou-Changshan railway can serve as a model for the reform of the long-lasting monopolized sector," a researcher from the China Academy of Railway Sciences said.

Early last month, Railways Minister Liu Zhijun said at a national working conference that his ministry is trying to attract more investment entities into the area to expand the rail track coverage.

"Market access will be widened to enterprises to encourage them to invest their capital into the railway projects," Liu said.

(China Daily 02/23/2005 page2)



 
  Today's Top News     Top China News
 

Beijing pushes for charter cargo flights across Straits

 

   
 

Strong quake strikes Iran, over 400 Dead

 

   
 

Goliaths compete for nuclear plant pact

 

   
 

FM: Lifting arms ban by EU hurts nobody

 

   
 

N. Korea willing to return to nuclear talks

 

   
 

Al-Jaafari likely to be next Iraqi PM

 

   
  Lantern fest hails dumpling arrival
   
  Doctors save heart of baby
   
  Private cash to help build railway line
   
  Does SARS virus still exist in the wild?
   
  Goliaths compete for nuclear plant pact
   
  Oft-delayed CCTV project set for May
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Advertisement
         
主站蜘蛛池模板: 中文字幕丰满乱孑伦无码专区| 亚洲精品无码mv在线观看网站| 日本在线观看a| 在线亚洲v日韩v| 一本大道在线无码一区| 日本一道高清一区二区三区| 亚洲AV无码一区二区三区网站| 欧美精品久久天天躁| 免费人成在线观看网站| 美女被的在线网站91| 国产伦精品一区二区三区四区| 欧美手机在线视频| 国产精品美脚玉足脚交欧美| 99精品众筹模特自拍视频| 好看的国产精品| 一级毛片中文字幕| 成年免费A级毛片免费看无码| 久久九九久精品国产| 日韩精品福利在线| 亚洲av网址在线观看| 欧美大片在线观看完整版| 亚洲男人的天堂在线| 男人天堂视频网| 免费无码一区二区三区| 精品国产一区二区三区色欲| 四虎国产成人永久精品免费| 色婷婷综合久久久久中文字幕| 国产免费全部免费观看| 麻豆国产入口在线观看免费| 国产日产久久高清欧美一区| 色综合67194| 国产福利不卡视频| 2022福利视频| 国产精品久久久久久| 你懂的视频在线| 国产精品中文字幕在线观看| 永久黄色免费网站| 国产精品亚洲精品日韩电影| 2021麻豆剧果冻传媒入口永久| 国产精品资源网| 3751色视频|