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Last updated at: (Beijing Time) Monday, June 10, 2002

Beijing Welcomes Welcomes Overseas Investment in Infrastructure: Mayor

Investment from overseas-based financial groups is welcomed for municipal infrastructure construction in Beijing.


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Investment from overseas-based financial groups is welcomed for municipal infrastructure construction in Beijing.

Liu Qi, mayor of Beijing, said this while meeting in Beijing Monday with William B. Harrison, Board Chairman and CEO of J.P. Morgan Securities Limited & JPMorgan Chase Bank.

Liu announced that the Beijing municipal government's fiscal revenue has increased by over 20 percent annually in recent years,thanks to rapid economic growth.

The government has been increasing investment in the infrastructural construction field, including the light rail transport system, which will have an estimated 150 km of track before the year 2008, according to Liu.

Harrison said during the meeting that his bank has signed a contract with a Beijing-based subway company to offer consultant services for financing the construction of the No. 4 and No. 5 subway routes here.

The bank will inject massive human resources as well as material support to help ensure financing for the projects, Harrison promised.

The 68-billion-U.S.-dollar-bank, now has expanded its businesses and services to over 50 countries, making it one of the largest financial institutions in the world.




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