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| 12 Trillion Yuan Earmarked for Energy, Transportation |
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China is estimated to spend 12 trillion yuan (US$1.5 trillion) on its energy and transportation sectors in the upcoming five years, Friday's China Securities Journal reported. In the next five years, the annual investment in the coal industry will be increased by 60 billion yuan or 70 billion yuan ayear, the paper quoted a report made by the Macroeconomic Research Institute of the National Development and Reform Commission (NDRC)as saying. The report outlines prospects of investment trend of seven industries in China's 11th Five-Year plan (2006-2010) period. During the period, investment in the oil sector will grow by 40billion yuan or 50 billion yuan a year, while that in natural gas field, by 20 billion yuan or 30 billion yuan a year, according to the report. At the same time, China will spend an average 500 billion yuan or 600 billion yuan on installing new power-generating units each year, and another 500 billion yuan or 600 billion yuan on building power grids. The transportation sector will get 6.5 trillion yuan of investment, representing an annual increase of 18.6 percent. By the year 2010, China's railway network is expected to reach 85,000 kilometers and the mileage of highway roads will be 2.3 million kilometers. The port handling capacity in the country is estimated to reach4.4 billion tons. The airports for civilian use will be increased to 180. (Xinhua News Agency January 7, 2006) |
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