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在线翻译:
szdaily -> Business -> 
Approvals of more urban rail projects expected
    2018-08-23  08:53    Shenzhen Daily

SEVERAL more cities are waiting for Central Government approval of their proposed urban rail projects after the country’s top economic planner resumed assessment of such projects in late July and has given green light to projects in two cities.

Hangzhou in Zhejiang Province said it expects to receive approval of its airport express rail project from the National Development and Reform Commission (NDRC) before the end of the month and start construction before the year-end, while Xi’an in Shaanxi Province, Taiyuan in Shanxi Province, Xiamen and Fuzhou in Fujian Province, Hefei in Anhui Province, and Wuhan in Hubei Province said they are expecting approvals for their urban rail projects to be announced soon.

On July 30, the NDRC approved 78.7 billion yuan (US$11.45 billion) of urban railway projects in the capital of the northeastern Jilin Province, the country’s first urban rail project that was approved in a year. The Changchun urban railway projects include eight subway lines, with estimated length of 135.4 kilometers.

The approval of the projects in Changchun City signals the restart of infrastructure projects that China had put on hold as it sought to contain local government debt, part of its multi-year risk crackdown.

Two weeks later, the NDRC approved a 95-billion-yuan plan by the eastern city of Suzhou to expand its urban rail network. The project includes four urban transit lines, with a total estimated length of 137 km.

Construction on the Jilin projects should start this year and is scheduled to finish in 2023, with 60 percent of the financing to come from bank lending, according to the National Business Daily. Construction on the Suzhou project is scheduled to start this year.

The Politburo, China’s top decision-making body, said in July that China could boost infrastructure spending.

In addition to providing more jobs, expanding metro lines would boost demand for steel and base metals — copper, aluminum and zinc — for use in wiring, rails and cars.

Last year, some local governments including the northern city of Baotou in Inner Mongolia canceled subway projects because of difficulty financing them.

China almost quadrupled the value of fixed-asset investment projects approved in July as the government looks to accelerate infrastructure spending to boost the cooling economy.

China gave the green light to 17 fixed-asset investment projects in July, worth a combined 77.69 billion yuan, according to the NDRC.

That compared with approvals for 20.8 billion yuan of spending in June, calculations from official data showed.

While announcements of big projects are starting to come thick and fast, analysts caution they have long lead times and they may not begin to arrest the decline in China’s economic growth until next year.(SD-Agencies)

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