NDRC Approves Metro Lines Worth 840 Bln Yuan
(Beijing) – The National Development and Reform Commission has approved 840 billion yuan worth of construction of subway and light rail lines in 23 cities over the last four months.
Most of these projects rely partially on the local government's budget, and bank loans cover the rest, the top economic planner said on September 5.
The rail system in Suzhou, in the eastern province of Jiangsu, is expected to cost 35.7 billion yuan, 35 percent coming from the city's budget. The remainder will come from domestic bank loans.
- Privilege Gap
- In Wednesday's Papers: Shenzhen Police Raid Offices of Video Streaming Firm, Gov'ts Made 4.2 Tln Yuan on Land Sales in 2013
- Does U.S. electric car maker Tesla Motors have a bright future in China?
- Budget Law Revision Proposes Letting Local Gov'ts Issue Bonds
- Recharging Network Is Priority over Production in China, Tesla CEO says
- Fight against Corruption Complements Reform Drive
- Detective Work by Group in 'Black Jail' Claim Leads to Trial
- In Tuesday's Papers: Central Bank Cuts Deposit Reserve Ratio for Rural Lenders, Everbright Group's Executive Becomes CIC Vice President
- Closer Look: How Chinese Consumers Helped Gold Prices to Slump
- Properly Secured
- Sign up to receive our free daily newsletter
- The Long Goodbye
- Officials in Shanxi Scramble to Sort out Steelmaker's Debt Mess
- Shiller: What We Can Learn from Past Crises
- How Telecom Graft in China Tripped Up Telstra
- Jack Ma's 6.5 Bln Yuan Bachelor Party
- Stephen Roach: China, U.S. Headed in Opposite Directions
- The Search for the Chinese Workers Who Helped Build America
- Graft Inquiry at CNPC Uncovers Shady Deal Involving Productive Oil Block
- CNPC Pushes ahead with Controversial Sichuan Refinery Project
- P2P Lenders Heading into Dangerous Waters, Critics Say