[photopress:railways.jpg,full,alignright]The Ministry of Railways will borrow RMB250 billion (US$31 billion) from China Development Bank for railway projects during the 11th Five-Year Plan (2006-10). China will lay down 17,000 kilometres of new lines for both passenger and freight transport before 2010. Liu Zhijun, Minister of Railways, said that the ministry needed stable financial support from the bank to reduce its financing costs and hasten reform of the railway system.
The bank will also support related industries, such as the construction industry, logistics , localized transport facilities manufacturers and information businesses.
Source: China Daily
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