China’s investment in metro systems is expected to hit more than 1 trillion yuan (US$148.28 billion) by 2020, as government planners accelerate approvals for such projects, the state-owned Economic Information Daily reported on Friday.
Since September, Beijing has approved more than 100 billion yuan worth of urban rail transit projects in the cities of Baotou, Urumqi and Xiamen, the newspaper said, adding that other localities were speeding up construction.
About 40 Chinese cities are currently building metro systems and 60 are designing and making plans, according to the China Association of Metros.
The newspaper said that, however, there has been growing concern over such projects’ financing models as they tend to bring in low income but require large amounts of investment, and that the National Development and Reform Commission was encouraging governments to attract private funding.
this shd help the cities, will make cities more green and less congested
Great way to spend so as to make the country progressive ,intead of keeping the money in USD Treasuries in form of paper certificates. That is smart.
From a systems viewpoint this is excellent policy. Metros alleviate transportation woes, reduce private cars ownership and trips, save fuel and import costs, reduce pollution and are very convenient and affordable. China is forging ahead with sustainable urban development models particularly with its investments into alternative energy and transportation technologies. One has to praise China for its efforts and vision.