China Needs USD2.8 Trillion to Build Mostly Rural Roads Over Next Decade
ZHANG KE
DATE: TUE, 07/31/2018 - 11:29 / SOURCE:YICAI
China Needs USD2.8 Trillion to Build Mostly Rural Roads Over Next Decade
(Yicai Global) July 31 -- China will need massive funds to improve its road network in the next decade, mostly in rural regions, a former inspector for China's transport ministry said.
The infrastructure demand for new roads requires an investment of CNY19 trillion (USD2.8 trillion) between 2021 and 2030, Yu Shengying, a former inspector at the Ministry of Transport said at a forum yesterday. The average annual investment is 10 percent lower than what was and is required for the separate years between 2016 and 2020.
Some 750,000 kilometers of rural roads, including touristic and industrial ones, need to be built, as well as 2 million kilometers of thoroughfare which needs a comprehensive renovation. The estimated total investment will reach CNY8 trillion.
It is necessary to ensure that about CNY10 billion of the central budget is invested in road construction each year, Yu said, adding that the funds should be used as much as possible for non-toll roads, especially in rural regions.
“The task of highway construction will remain heavy from 2021 to 2030," Yu added. China will construct 100,000 kilometers of national highway for CNY2.3 trillion and 200,000 kilometers of provincial highway for CNY2.8 trillion during the decade.