22 April 2019

China ramps up shantytown, railway funding, paper says

China will step up funding for shantytown renovation and rail construction projects, China Securities Journal reported Thursday, citing a State Council meeting chaired by Premier Li Keqiang {李克強}. China Development Bank Corp. will set up an independent unit to finance shantytown renovation projects and 6,600 kilometers of new railways, the report said. Bonds will be issued for the purpose. Meanwhile, the government is considering a two-year extension of a preferential tax policy that allows small firms and micro enterprises to pay only half of corporate tax, the report said.

– Contact HKEJ at [email protected]



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