China Railway Corporation's debt reaches 300 billion yuan: report
2019-02-25 16:19:43
Summary：The debt of State-run China Railway Corporation reached 300 billion yuan ($44.68 billion) in 2019, far exceeding ...
The debt of State-run China Railway Corporation reached 300 billion yuan ($44.68 billion) in 2019, far exceeding the 240 billion yuan in 2018, an increase of 25 percent, Shanghai Securities News said on Friday, citing sources.
The report added that national railway investment in 2019 is expected to exceed 800 billion yuan, a record high.
At the end of last year, the National Development and Reform Commission (NDRC), the country's planning agency, approved a railway construction plan in East China's Jiangsu Province with a total investment of about 218 billion yuan for the project that will begin this year, according to the official website of the NDRC.
According to the NDRC, China plans to start construction of 26 railway projects and another 19 reserve projects this year.
The total amount of railway bonds issued in 2018 was 240 billion yuan, accounting for about 30 percent of the annual railway investment, according to data provider Wind, the report said.
The national railway fixed asset investment stood at 802.8 billion yuan in 2018, higher than the 732 billion yuan planned. It was the fourth consecutive year since 2015 in which fixed asset investment breached 800 billion yuan.
The report said that aside from railway construction investment, the NDRC has approved a series of projects such as urban rail and airport construction with total investment of more than 1.2 trillion yuan since the fourth quarter of 2018. Moreover, local governments are also accelerating the pace of investment in infrastructure construction, and their funds are also partly derived from bonds.
The report added that national railway investment in 2019 is expected to exceed 800 billion yuan, a record high.
At the end of last year, the National Development and Reform Commission (NDRC), the country's planning agency, approved a railway construction plan in East China's Jiangsu Province with a total investment of about 218 billion yuan for the project that will begin this year, according to the official website of the NDRC.
According to the NDRC, China plans to start construction of 26 railway projects and another 19 reserve projects this year.
The total amount of railway bonds issued in 2018 was 240 billion yuan, accounting for about 30 percent of the annual railway investment, according to data provider Wind, the report said.
The national railway fixed asset investment stood at 802.8 billion yuan in 2018, higher than the 732 billion yuan planned. It was the fourth consecutive year since 2015 in which fixed asset investment breached 800 billion yuan.
The report said that aside from railway construction investment, the NDRC has approved a series of projects such as urban rail and airport construction with total investment of more than 1.2 trillion yuan since the fourth quarter of 2018. Moreover, local governments are also accelerating the pace of investment in infrastructure construction, and their funds are also partly derived from bonds.
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