Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    China to issue local toll road bonds

    By Wu Xiaobo | chinadaily.com.cn | Updated: 2017-07-13 14:47
    Share
    Share - WeChat

    Aerial photo of the Anhui segment of Huizhou-Hangzhou Highway in East China.[Photo/Xinhua]

    China will issue local toll road bonds this year to standardize local government's financing for toll roads, according to an official statement released on Wednesday.

    This is the latest move to regulate local government's financing behaviors following the rollout of local land reserve bonds.

    Local governments will be allowed to issue local toll road bonds to meet their financing needs, according to the statement jointly released by the Ministry of Finance and the Ministry of Transport.

    Local toll road bonds is a type of special-purpose bond issued by local governments to finance the construction of toll roads.

    The fund raised should be used specifically for toll road construction, the statement said.

    Priority will be given to national highway projects and government toll way projects supporting the Belt and Road Initiative, the integrated development of Beijing, Tianjin and Hebei region and the Yangtze River Economic Zone.

    Government toll roads mainly include national highways, local highways and arterial toll roads, according to the statement.

    "The fund should not be misappropriated for projects other than toll road construction, current expenditures or road maintenance expenditures," the statement stressed.

    As of the end of last year, China had 171,100 kilometers of toll roads, accounting for 3.6 percent of all roads. The aggregate investment in toll road construction came to 7.59 trillion yuan ($1.12 trillion) and the outstanding debts stood at 4.86 billion yuan, according to a communiqué on toll roads released by the Ministry of Transportation.

    In the past, local governments either invited private capital to participate in road construction on the build-operate-transfer model, or borrowed loans from banks for road construction and paid back the loans with toll collections, an official said.

    As China called off the financing function of various local transport financing vehicles in 2014, local government bonds have become the only bond-financing channel for new road construction, he said.

    The issuance of the special-purpose local toll road bonds will expand the financing channels for road construction and standardize the financing behaviors of local governments, the official said.

    According to a report by 21st Century Business Herald, the longest duration of local toll road bonds can be 15 years, while five years in principle is standard for local land reserve bonds. The newspaper also reported an unnamed source saying this year's total quota for local toll road bonds will be 73 billion yuan.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    久久久无码人妻精品无码| 国产成人无码免费网站| 国产精品无码免费播放| 精品久久久久久无码不卡| 亚洲av无码不卡私人影院| 中文字幕无码日韩专区| 人妻精品久久久久中文字幕一冢本| 亚洲AV无码成人精品区天堂| 亚洲av中文无码乱人伦在线播放 | 亚洲 日韩经典 中文字幕| 亚洲AV无码一区东京热久久| 最近中文字幕免费完整| 婷婷五月六月激情综合色中文字幕| 免费无码又爽又刺激高潮视频| 亚洲国产中文v高清在线观看| 天堂√最新版中文在线| 久久无码一区二区三区少妇| 无码内射中文字幕岛国片| 久久无码AV中文出轨人妻| 日韩免费码中文在线观看| 中文字幕av无码一区二区三区电影 | 国产精品亚洲αv天堂无码| 小13箩利洗澡无码视频网站| 中文字幕一区二区三区永久| 久久国产高清字幕中文| 久久中文字幕精品| 亚洲精品无码激情AV| 亚洲精品无码日韩国产不卡?V| 91久久九九无码成人网站| 国产午夜精品无码| 毛片无码免费无码播放| 无码中文人妻在线一区二区三区| 中文字幕av无码专区第一页 | 无码区国产区在线播放| 无码人妻AⅤ一区二区三区| 人妻丰满熟妇AV无码区乱| 小13箩利洗澡无码视频网站| 人妻中文字系列无码专区| 人妻少妇乱子伦无码视频专区| 无码AV岛国片在线播放| 亚洲精品无码不卡在线播HE|