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People's Daily Online>>China Business

Overheated transport construction brings financial risks

(Beijing News)

15:44, March 27, 2012

The photo shows the sharp contrast between urban transportation and rural transportation of China. (File photo)

Edited and translated by Yao Chun, People's Daily Online

In recent years China has made great progresses in the construction of high speed railways, highways and subways. But yesterday a report launched by the Institute of Geographic Sciences and Natural Resources Research (IGSNRR), Chinese Academy of Sciences (CAS) pointed that the excessive development of transport infrastructure will cause difficulties in loans' repayment.

The mileage of highways has increased 7 times in last 10 years.

Since 1998 highways have extended rapidly all over China. As of the end of 2010 the total mileage of Chinese highways has reached 74,000 kilometers, rising more than 7 times than 1998.

But the traffic demand hasn’t increased so much, the large scale highway construction has caused waste of traffic resources, said Liu Weidong, researcher of IGSNRR.

33 Chinese cities plan to build subways

In order to relieve the negative impact of global financial crisis and maintain the rapid growth of GDP, a series of subways projects were approved in numerous cities of China. At present, 33 cities have plans to construct subways, among which 28 cities, including Nanning, Hefei, Guiyang, Jinan, Shijiazhuang, Taiyuan and Changzhou, have been approved. In 2006, there are only ten subway lines in operation, but the number will increase to 86 by 2015.

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Jack at 2012-04-1596.248.242.*
Tokyo has over 120 modern urban/suburban rail lines in operation. That means China needs probably close to 1000 lines eventually.

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