LINE

Text:AAAPrint
Economy

China's construction sector to benefit from new infrastructure drive: Fitch

1
2015-08-05 09:00Xinhua Editor: Gu Liping

China's construction companies will gain from the government's new plans to broaden the railway sector's investment channels, financing options and pricing mechanisms, said Fitch Ratings.

Financing has been a major bottleneck for the development of China's infrastructure construction, said Fitch, one of the Big Three rating agencies.

On Friday, the National Development and Reform Commission (NDRC) and four other government bodies jointly announced a raft of initiatives, including encouraging private investment in the construction and operation of inter-city and intra-city lines, overseas railway projects, as well as rail links for mining projects; providing discount interest loans for railway projects that are funded by private capital in central and western China; and supporting various financing channels especially public-private partnership.

The Chinese government has been trying to attract private capital to invest in infrastructure, and these measures will boost the domestic construction industry, Fitch said.

Since the beginning of this year, construction of major projects has been the key for boosting investment and sustaining growth. By the end of April, investment into railways rose 22.6 percent year on year, with 419 kilometers of new track put into operation.

China will boost investment to foster technological progress in six manufacturing industries, including railway equipment, new-energy vehicles and medical equipment, between 2015 and 2017, as the country tries to upgrade its manufacturing sector and lift economic growth, the NDRC, China's top economic planner, said Thursday.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.