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China to Develop Rail Transit System in Big Cities
China is expected to invest more than 130 billion yuan to develop rail transit system in over 10 big cities within the next five years..
By 2005, nearly 400 kilometers of rail transit systems will be added to the current 120 kilometers, according to the China Communications and Transportation Association.
Qian Yongchang, president of the association, said that the development of the system will contribute significantly to alleviating traffic pressures in big cities by providing larger-capacity and quicker transportation with low pollution.
Sources from the State Development Planning Commission said nearly one-third of rail transit investment will be from the State.
The Beijing municipal government allows foreign companies to invest in and manage some of its rail transit system projects.
Many overseas investors are eyeing the tremendous potential of China's rail transit markets.
The central government has encouraged local authorities to use more domestic-made equipment in the rail transit system.
All rail transit system projects are required to use no less than 70 percent of domestic-made locomotives and other electrical equipment, said commission sources.
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