BEIJING, Aug.16 (Xinhua) -- China invested 72.491
billion yuan (9.06 billion U.S. dollars) in railway construction from January to
July, up 1.8 times on the same period last year, a Ministry of Railway spokesman
said here on Tuesday.
Of the total, 53.357 billion yuan came from the Ministry, up 1.3
times on the same period last year, said spokesman Wang Yongping.
Meanwhile, outlays by local governments and companies
surged to 18.588 billion yuan, up 5.5 times year-on-year. The money will be
invested in both state-run and joint-venture railways.
Investment in local railway construction reached 545
million yuan, all bankrolled by local governments, Wang said.
Analysts say that the enthusiasm of local governments
and companies for railway construction reflects the popularity of China's new
railway investment policy.
Following market estimates that 1.5 trillion yuan
would be needed for railway construction from 2006 to 2010, China's railway
authorities have opened their arms to non-public capital.
Last May, the Ministry recommended a package of 43
railway investment programs to the general public. Two months later, a
regulation was issued, providing the legal basis for attracting and using market
capital.
Daqin Railway Co., Ltd., the operator of northern
China's major coal transportation railway line, was listed in the Shanghai Stock
Market on August 1 this year. It raised 15 billion yuan by issuing3.03 billion
shares at a price of 4.95 yuan per share.
More projects will be introduced to the public this
year, Wang said, giving no specific number.
Official data shows that 26 railway joint-ventures
have been set up since last year with total investment exceeding 420 billion
yuan, with more than 56 billion yuan from local governments, investment
companies and corporate institutions. Enditem
