Railway finance to get a boost
By Xin Dingding (China Daily)Updated: 2007-05-02 08:56
The Ministry of Railways has decided to have multiple investors in all its new sections as part of its financial reforms, a top official has said.
Speaking at a national conference recently, Minister of Railways Liu Zhijun invited local governments, State-owned and private enterprises, social investment institutions and overseas funds to invest in the railways.
The ministry will urge the three listed railway companies to get refinance, seek investors for State-owned railway transport companies, and raise the amount of construction bonds to be issued this year.
Liu said the scale of jointly funded railway projects and the percentage of social funds in total investment both will grow this year.
This is the first time that financial reforms have been listed among the ministry's annual working priorities, the Economic Observer newspaper has reported.
Liu didn't elaborate on the plans, but the newspaper said several firms were eager to invest in the railways, and had already contacted China Railway Special Cargo Service Co and China Railway Express Co.
Some foreign firms will probably invest in China Railway Container Transport
Co, insiders have said, but the ministry has not confirmed it.
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