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News

Boost for road building

31 July 2013
Road construction in central and western China will speed up, China Securities Journal reported.

Several provincial-level regions, including Yunnan, Hubei, Hunan, Jiangxi, Tibet, Xinjiang and Sichuan, plan to build new highways, according to the newspaper. In Tibet, authorities will spend Rmb200bn to build a road network centred around the regional capital of Lhasa over the next five to eight years. These projects will be funded by various means, including corporate bonds.

The National Development and Reform Commission has recently approved an Rmb8.5bn corporate bond issue by Hubei Provincial Communications Investment, the largest corporate bond sale of its kind to date, the paper said.

The government plans to spend Rmb4,700bn to expand the national road network during the 2013-2030 period, according to the Ministry of Finance.

     
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