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Beijing Subway Construction gets US$604 million Boost

2004/07/15

Beijing's Olympic economy received a 50 billion yuan (US$604 million) boost on June 30, 2004 when officials announced new fundraising. The income will support the construction and operation of four subway lines with a combined length of 103.54 kilometres, three of which are slated for completion prior to 2008.

Thirty percent of the funding is expected to be provided by foreign firms and consortia that win bids for procurement and installation of subway carriages, machinery and electronics.

Beijing Vice-Mayor Zhang Mao pledged a 70 percent contribution by the Beijing municipal government.

"Between 2004 and 2015, the municipal government will invest 107.29 billion yuan (US$12.96 billion) in traffic and other infrastructure facilities, but private investors are welcome to participate in the construction and operation," Zhang said.

For more information, see: Invest Beijing, http://www.bjinvest.gov.cn



	Article featured in Business Beijing, July 2004 Publication sponsored by Information Office of the Beijing Municipal Government, Beijing Municipal Bureau of Commerce, Development & Reform Commission of Beijing Municipality, China Council for the Promotion of International Trade (Beijing Sub-Council)