Plan for Railroad Fund 'to Come by Year's End'
(Beijing) – A detailed plan for a long-anticipated railroad development fund is expected to be worked out by the end of the year, a source close to the situation says.
The fund is expected to launch next year, said the source. Details for establishing the fund and supporting policies are still being discussed by government departments.
On August 19, the State Council, China's cabinet, called for faster reform of the country's system of financing railroads. This would be done by issuing bonds and setting up a development fund that would involve government funding and private investors.
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