The Gansu Silk Road transportation development fund with an initial capital of 100 billion yuan was officially launched recently, according to Gansu Provincial Communications Department.
The fund was jointly established Gansu provincial government and China State Construction Engineering Corporation Ltd. (601688.SH) to provide financial support for road, railway and air transportation infrastructure construction along the Silk Road Economic Belt.
To improve transportation condition of the Gansu section on the Silk Road Economic Belt, the province plans to invest over 800 billion yuan in transportation construction in six years.
Joining with centrally administered enterprises to establish transportation funds has become an important way for Gansu to raise capital for infrastructure construction.
In September 2015, the communications department cooperated with China Communications Construction Company (CCCC) Fund Management Co. Ltd., to establish a 40 billion yuan transportation investment fund.
The province will also set up a 20 billion yuan road construction fund with Postal Savings Bank of China.
Latest comments