Date
21 October 2017

NDRC, local rail authorities meet on financing, paper says

The National Development and Reform Commission has met with representatives of nine local railway authorities, including those from Beijing, Zhengzhou, Harbin and Shenyang, to discuss the expansion of financing for railway construction and management reform, the National Business Daily reported on Wednesday. China Development Bank on Monday issued the first batch of railway asset-backed securities worth 8 billion yuan (US$1.31 billion) in the interbank market to expand railway financing. The China Railway Corporation has raised this year’s allocation for railway investment to 690 billion from 650 billion yuan, with railway construction accounting for 530 billion yuan, the report said.

– Contact HKEJ at [email protected]

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