China Releases Three-Year Action Plan to Further Improve the Country’s Infrastructure
China is releasing a three year action plan in hopes to improve the country’s infrastructure with a total investment of around 4.6 trillion yuan. The plan which is jointly issued by the National Development and Reform Commission along with the Ministry of Transport is aiming to improve the rapid transit network, basic traffic network and urban transit network by establishing an integrated transportation network and better leverage the role of combining advantage and network efficiency.
The action plan includes 303 projects ranging from highways, railways, airports, waterways and urban rail transit that have 131 projects in 2016, 97 project for 2017 and 80 projects in 2018. Based on railways, the country is planning to invest 2 trillion yuan in promoting the 86 projects and in building and rebuilding around 2,000 kilometers of railways. An additional 580 billion yuan will be used to promote 54 highways, then 460 billion yuan in promoting 50 airports and 60 billion yuan for waterway promotions.
Talking about urban rail transit, the country is promoting 103 projects and is planning to build 2,000 kilometers of new rail lines with a total investment of around 1.6 trillion yuan. the plans also calls for the improvement of fund support and to increase the capital investment coming from the central government, plus the country should speed up reforms in investment and in the financing system that will boost public and private partnership cooperation.