China Builds Expressways with Capital Market Funds

China is accelerating the pace of expressway construction by drawing funds from overseas and domestic capital markets.

According to statistics, ten construction companies in China have issued A-, B- and H-shares, and have raised 15.2 billion yuan (1.83 billion US dollars).

The Guangdong Expressway Joint-Stock Company took the lead by issuing B-shares in August 1996; the Anhui Wantong Expressway Joint-Stock Company became the first expressway enterprise to issue H-shares in November 1996; and in early 1998, the Hainan Expressway Joint-Stock Company became the first to issue A-shares.

The country plans to invest 15 billion US dollars in building a national expressway network with a combined length of 35,000 kilometers by 2010. China's expressway mileage has now surpassed 10,000 km.


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