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China Daily Website

China opens railway investment to public

Updated: 2013-08-28 13:47


Individuals and the private sector will be able to play an increasingly important role in China's railway construction. This multi-billion, previously State-run sector is now open to public investments. CCTV exclusively interviewed Mr Yang Chuantang, Minister of Transport, about the changes.

"This time's price adjustments, as well as investments and financing of railway constructions are all based on the demand for railway development. Now the National Development and Reform Commission, China Railway Corporation and the Ministry of Transport of China are all working together to raise funding. This is a government-led fund and it aims to assure confidence in public investments." Yang Chuantang said.