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Sunday, November 26, 2006

China puts huge investment in railroad and expressway systems

1.5 trillion RMB(US$190 billion) investment to improve China's railway system before 2010.Source

China will invest 1.5 trillion (US$190 billion) to increase the nation's rail network to over 90,000 kilometres by 2010.

"We will invest 300 billion yuan (US$38 billion) in railway construction next year," Li Guoyong, transportation director of the National Development and Reform Commission, said yesterday at the China Railway Financing Forum.

The investment, described by Li as "the biggest in China's history," would increase the size of China's rail network by almost 20 per cent.

The 1.5 trillion yuan (US$190 billion) investment includes 250 billion yuan (US$31.6 billion) for vehicle purchasing, over 600 billion yuan (US$76 billion) for railway lines and over 625 billion yuan (US$79 billion) for civil engineering.

China all anounced a US$250-billionplan for the expressway expansion in the next 30 years. This plan does not include other highway systemsSource.

The Chinese government plans to extend the country's expressway network by 85,000 kilometers in the next 30 years at an estimated cost of two trillion yuan (US$250 billion), under a plan drawn up by the Ministry of Communications.

The expressway network plan, accounting for regional, urban and rural development and population distribution, shows the government will spend 390 billion yuan in eastern China, 520 billion yuan in central areas, and 1.09 trillion yuan in western China.

The plan shows the total length of the network will reach 42,000 kilometers by the end of 2007, and 50,000 to 55,000 kilometers by 2010.

According to this report, China will invest 900 billion RMB (US$ 119 billion)in the transport sector this year alone. (Source.)

China's fixed-assets investments in the transport sector are scheduled to reach 938.4 billion yuan (119 billion U.S. dollars) this year, a growth of 18.4 percent year-on-year.

The transport sector invested 612.4 billion yuan (78 billion U.S. dollars) in fixed assets in the first three quarters of this year, up 25.96 percent over a year earlier.

Of the total, 124.2 billion yuan (16 billion U.S. dollars ) went to railway construction and upgrading, up 100 percent, 418.3 billion yuan (53 billion U.S. dollars) went to highway projects, up 12.7 percent, and 43.9 billion yuan to coastal harbor construction, up 37.4 percent.

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