Apr 19, 2012
(China Daily)
More than 80% of the suspended railway projects are recommencing after funds of almost RMB50 billion have been put in place, says a railway expert.
At least RMB40 billion's worth of loans from banks can be guaranteed. The current amount of raised money is considered not bad in terms of the resumed railway projects.
But since a gap of more than RMB20 billion still exists, a few less important projects have to be shelved to ensure the completion of key railway lines.
In fact, RMB80 billion is annually needed to maintain the construction rate specified in a revised state blueprint on railway networks in 2008.
