HomeHome
About usAbout us
PublicationsPublications
Yangtze Business NetworkYangtze Business Network
Business toursBusiness tours
ConferencesConferences
ConferencesConferences
Yangtze KnowledgeYangtze Knowledge
Contact usContact us

 
     
2014
2013
2012
2011
2010
2009
2008

News

Government help for railway projects

19 October 2011
Chinese authorities have agreed to provide financial support for major railway projects that face cash constraints, China Securities Journal reported.

The move follows a policy instituted earlier in October by the Ministry of Finance to halve the tax on the interest earnings of bonds issued by the Ministry of Railways over the next two years, in a bid to make the bonds more attractive.

Following a fatal crash on a high-speed rail line in July, China has reined in spending on railway projects. This has led to delays for 70 per cent of planned projects, according to a survey conducted by the website Chnrailway.com. Millions of migrant workers hired to lay new track have not been paid in months due to a shortage of funds, according to China Daily.

Ministry of Railways investment in fixed assets totalled Rmb357.72bn in the first eight months of 2011, down 11.5 per cent year-on-year.

     
Copyright © Yangtze Business Services 2018           Tel: +44 (0)20 8874 3217  info@YangtzeBusinessServices.com


Website by HOL