In after adjusting for the
contraction of last year, China is to let go of railway infrastructure
investment, but did not actively promote the ministry of railways, is still in
the former railways minister liu zhijun in office sure project to confirm.
The ministry of railways has been at the beginning of this year, on the basis of
determining the railway infrastructure construction of 2012 additional
investment of $64 billion. In the ministry of railways issued on July 30, 2012
in the third phase of the railway construction bonds prospectus "disclosure, in
2012 the national railway plan total scale of investment in fixed assets of 580
billion yuan, including basic construction investment of 470 billion yuan, this
is more than a month before the number increased by 64 billion yuan. In the
ministry of railways on June 11, 2012 and released on July 3, the first two
period in a bond prospectus, in 2012 the national railway capital construction
investment have shown is RMB 406 billion.
But the railway construction process is not as good. Compared with the same
period last year, 2012 rail investment shrink, rail during the first half of
this year, a total of 177.75 billion yuan of investment in fixed assets, fell by
36.1%; Including basic construction investment of 148.706 billion yuan, down
38.6% year-on-year. Some of the items should be opened to traffic last year as
haerbin-dalian line, delay to traffic, construction projects including mass
shutdown, caused the waste of resources.
"The ministry of railways now gave the battle like a soldier, no spirit." An
NDRC official to gain new reporters, even some lines in the development and
reform commission has approved, the ministry of railways are not actively push
forward. According to him, now for the ministry of railways, the planning of the
railway construction front is too long, difficult financing. In the effort to
protect to build, on the basis of the current railway ministry team on
determination of the project under Mr Liu had previously to confirm again. For
some ready for construction of passenger dedicated lines, the local government
hopes to speed slightly lower passenger mix ran.
In addition to the national development and reform commission has approved some
of the new line, other departments of the central government are trying to, from
debt issuance and stress aspects and so on bank loans for the ministry of
railways construction fund pressure. Before the ministry of railways to issue
bonds in accordance with the provisions of the securities laws to the company
type enterprise bond issuance amount must not exceed 40% of net assets. This
year, the development and reform commission (NDRC) is put forward according to
the ministry of railways will not processing company type enterprise, relax to
net worth no more than the limit, the state council has approved. After
loosening, the market is expected to the ministry's debt to increase 2012 yuan
in 2012, 50% more than last year.
And there monetary easing trend this year, bank loans will increase to 200
billion yuan, from the ministry of railways railway bank loans have been shrink
to 100 billion yuan last year, in October 2011 after railway in large area to
cease, and had to hold an emergency meeting of the state council, mobilization,
and emergency organized 200 billion emergency loans.
"In 2012, the ministry of railways of the basic construction investment will
finish nearly 5000 kilometers of railway construction." The development and
reform commission (NDRC) said. Among them, this year is expected to complete the
bigger of the two lines have zheng west. "Wu Guangxian operation good, zhengzhou
to wuhan after line through Beijing, operating return will increase." He said.
In addition, in the third phase of bond issuance in the book, the bonds to raise
funds for the construction of hangzhou also long, close and shanghai-kunming
line and some other large projects.