Beijing subway investment to hit 331 billion yuan by 2015

16:58, April 01, 2010      

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Beijing's total investments in its subway system are projected to be more than 331.2 billion yuan by 2015 as the city expands the system to more than double its current size, said Wu Lishun, general manager of financing and planning for the Beijing Infrastructure Investment Co., Ltd., yesterday.

The number of subway lines will increase from nine to 19, and the total length of track in the system will increase from 228 kilometers to 561 kilometers.

Wu made the above remarks at the "Challenges for Urban Public Transport" seminar, an important part of the 16th China-France Economic Forum. The event was organized by the Paris-based company Veolia Transport.

Those responsible for rail transportation in Beijing also have other means of raising capital besides government sources. For example, private capital was used for the first time to construct Line 4. Total investment capital in Line 4 was 14.7 billion yuan. Of that number, one-third came from private capital.

This marked the reform of China's subways and the breaking of a monopoly situation. However, private capital investment in public transportation would be only one feasible way to go, said Jin Yongxiang, general-manager of Dayue Consulting.

It is known that during China's 12th "Five-Year Plan," more than 700 billion yuan may be invested in the construction of track transportation. The total combined length of track will reach 5,000 kilometers at that time, making China's rail system the largest in the world. The diversification of investors in China's subway construction will accelerate the development of rail transportation and enhance the operational efficiency of urban public transportation.

The meeting yesterday aimed to discuss how to develop technology and reform the organization, co-op mechanism and financing of public transportation. The goal is to promote sustainable development and solve increasingly serious urban transportation issues.

By People's Daily Online

(Editor:黄硕)

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