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China eyes stronger infrastructure for growth

Updated: Jun 30,2015 7:00 PM     Xinhua

China’s top economic planner announced campaigns to accelerate development of the country’s urban rail networks and logistics services on June 30.

China will aim to have established “comprehensive” urban rail networks in first-tier cities including Beijing, Shanghai, Guangzhou and Shenzhen and “basic” ones in second-tier cities including Nanjing as well as Chongqing Municipality by 2020, said the National Development and Reform Commission (NDRC).

The work will “improve traffic conditions in cities and establish an affordable, efficient, convenient, safe and reliable urban rail transit system,” said NDRC spokesperson Li Pumin at a press conference.

The second campaign will focus on building an international logistics channel to connect the domestic and overseas markets, integrating logistics services in the Beijing-Tianjin-Hebei region, and strengthening infrastructure for e-commerce.

It will “aim to build a well-planned, efficient, convenient and environmentally-friendly modern logistics system supported by advanced technology,” Li said.

“Urban rail transit is key infrastructure that props up cities’ economic and social development, and logistics is a fundamental and strategic industry in bolstering national economic growth,” he added.

The NDRC also announced similar campaigns behind emerging industries and manufacturing, promising further details on these later.

China has invested more than 3 trillion yuan (about 500 billion U.S. dollars) in seven packages of major infrastructure projects this year.

The government has prescribed an investment boost to help steady national economic growth, which slowed to 7 percent in the first quarter of 2015 from 7.3 percent the previous quarter.