久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

  Home>News Center>China
       
 

Foreign capital to fund railway construction
By Lu Haoting (Business Weekly)
Updated: 2004-08-06 11:08

The Ministry of Railways' plan to allow private capital, including foreign investments, to fund railway construction projects will be made public by year's end, confirm sources close to the ministry.

"The draft will be finished either this month or in September, and will be made public by year's end," Wu Wenhua, a researcher with the National Development and Reform Commission's Institute of Comprehensive Transportation, said last week.

The institute is helping the Ministry of Railways (MOR) draft the blueprint to reform the system of financing and investing in railway construction.

"The highlight of the plan is private capital will be allowed to fund railway construction," Wu told China Business Weekly.

"Operators of railways will be transformed into independent economic entities with diverse shareholders.

"Such financing methods can be adopted on branch lines and hot routes with large passenger flows, such as the Beijing-Shanghai route."

MOR is also expected to allow three railway companies, affiliated with the ministry, to list, either domestically or overseas, sources said.

The companies are China Railway Parcel Express Co Ltd (CRPE), China Railway Container Transport Co Ltd (CRCT) and China Railway Special Cargo Co Ltd (CRSC).

The companies were established at the end of last year.

"CRCT will probably be the first to list, given the handsome profits it earns," said a CRSC official, on condition of anonymity.

"Presently, it is hard for CRSC to list as a whole because the current price of special cargo transport cannot cover our costs, and we can hardly make a profit.

"But it is possible we will first list our profitable subsidiaries, such as Large Cargo Transportation Co Ltd and International Cargo Agency."

CRCT's officials were not immediately available for comment.

Analysts said the ministry's plan, if adopted, will be a historical step towards diversifying the ministry's investment channels.

Officials and analysts expect the scheme will ensure sufficient capital for railway construction.

Presently, governments at all levels in China fund - through various sources, including the railway construction fund and loans from the State Development Bank - railway construction.

China spends less than 60 billion yuan (US$7.3 billion) annually on railway construction, statistics indicate.

That figure is far less than the 300 billion yuan (US$36.3 billion) spent annually on road construction, China Youth Daily recently reported.

That wide gap is "a result of the backward financing system in the sector," Dong Yan, the institute's director, was quoted as saying by China Youth Daily.

The lack of construction of new railway lines, mainly the result of inadequate financing, has enhanced the deterioration of rail transportation, experts suggest.

"Strained railway transportation has created a bottleneck for the sound development of Chinas economy since the end of last year," said Huang Min, director of MOR's Department of Development and Planning.

MOR's statistics indicate the daily demand for rail cars, during the year's first quarter, surged to 280,000, up from last year's daily average of 160,000.

However, China's rail network is incapable of handling 100,000 cars a day.

Most of the trunk lines have been operating at full capacity.

Introduction of multiple investment entities will help solve some of the existing problems in railway transportation, said Wang Derong, deputy director of the China Transport Association.

"The fact there is no clear line between the functions of the government and enterprises is the root cause of MOR's slow reform," Wu said.

"MOR should use its well-performing assets to attract private capital. Railways that have larger passenger and cargo flows in the relatively developed East China should be opened to private capital."

The State opened the nation's road-construction and maintenance sector, and introduced multiple-ownership investors, in the 1980s. Investors from various backgrounds were permitted to enter the sector to earn profits.

China's rail sector, however, remains primarily State owned.

The overall investment in China's rail sector, from 1997 to 2002, was 300 billion yuan (US$36.14 billion). Meanwhile, input in road transport during the same period reached 1.4 trillion yuan (US$168 billion), China Youth Daily reported.

Wu also called for reforms to the railway sector's accounting and pricing systems to ensure investors earn profits.

He didn't elaborate.

China currently has 73,000 kilometres of railways. About 20,000 kilometres of those railways were built prior to the founding of the People's Republic of China in 1949.

Also, 20,000 kilometres were constructed during the 1950s and 1960s.



 
  Today's Top News     Top China News
 

Farmers reap macro policy rewards

 

   
 

Shopkeeper punished for fake milk powder

 

   
 

Japan urged to pay weapons compensation

 

   
 

Stars, spaceman top poll for youth

 

   
 

Unsafe injections kill 390,000 prematurely

 

   
 

Parliament exchange pushes Sino-US ties

 

   
  Model of HK 'shows way for Taiwan'
   
  Drill rehearses oil spill disaster plan
   
  Seven drugged people out of danger
   
  Beijing tries ways to tackle power gap
   
  Shopkeeper punished for fake milk powder
   
  Farmers reap macro policy rewards
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  When will china have direct elections?  
Advertisement
         
主站蜘蛛池模板: 久草在线免费播放 | 成人看片黄a在线看 | 特级一级全黄毛片免费 | 久久草在线精品 | 成人α片 | 国产或人精品日本亚洲77美色 | 女人张开腿让男人桶免费网站 | 午夜精品影院 | 欧美成在线视频 | 成a人v | 国产香蕉久久 | 日本成本人片 | 精品午夜久久网成年网 | 成年人网站在线观看免费 | 国产精品夫妇久久 | 午夜欧美成人久久久久久 | 国产日韩欧美视频在线 | 成人做爰视频www在线观看 | 久久综合狠狠综合狠狠 | 8000av在线 | 国产精品亚欧美一区二区三区 | 欧美一级带| 精品欧美亚洲韩国日本久久 | 日韩一级在线播放免费观看 | 黄色成人在线观看 | 精品一久久香蕉国产线看观 | 久久精品一区二区影院 | 午夜精品久久久久久毛片 | 萌白酱喷水福利视频在线 | 亚洲日本视频在线 | 久久91精品牛牛 | 在线毛片网站 | 在线观看一区二区三区四区 | www.欧美成 | 天堂8资源在线官网资源 | 手机看片久久高清国产日韩 | 国产免费一级高清淫曰本片 | 91av福利| 久久精品在线 | 欧美中文字幕 | 久久看视频 |