Beijing Spends Heavily on InfrastructureBeijing, which is striving for the bid to host the 2008 Olympic Games, has spent heavily on infrastructure this year, especially on improving the city's traffic and the protection of environment.By the end of October, Beijing had invested more than RMB$22.8 billion in infrastructure construction, surging 11.1 percent over the same period last year. The city will broaden 70 kilometers of road in the urban area while building or broadening 300 kilometers of highway in the suburbs, including a 42 kilometer-long expressway before the end of the year. Meanwhile, Beijing will increase its water supply capacity by 250,000 cubic meters and sewage treatment capacity by 200,000 cubic meters on a daily basis. Beijing will also have 100,000 more natural gas users, and by the end of the year, the city will consume 1 billion cubic meters of natural gas on an annual basis. Infrastructure Sector Opens to Overseas InvestorsOverseas investors are now welcome to participate in Beijing's infrastructure construction, according to a latest official document.In the past, the government was the sole investor in the sector. From now on, both domestic and overseas enterprises are eligible to compete in the infrastructure bid. Overseas enterprises may thus get the chance to use their technical ability and experience in Beijing's urban construction drive. Investors may get compensation funds from the municipal government and enjoy preferential policies on tax, land development, advertising and many other fields. |
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