Beijing will invite more private funds to invest in major projects across seven fields including metro construction, shanty town reconstruction and environmental protection projects, according to a key document released by the municipal government.

 

The Beijing government released guidelines to attract private funds to invest in a total of 136 projects on Tuesday. It is the first time that private funds have been solicited for shanty town reconstruction.

 

The total investment in these projects is expected to exceed 260 billion CNY. A third company may also be set up to manage new metro construction. With the rapid growth of the metro lines in Beijing, the total mileage is expected to exceed 1,000 kilometres by 2020, one of the longest in the world.

 

But the opening up to private funds does not mean the government will shoulder fewer responsibilities in supervising these fields, said an anonymous official from the Beijing Municipal Commission of Development and Reform.

 

The government will play a bigger role in managing the growing funds and facilitate the development of the city, the official said. 

Name

Email

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment