China to invest $1000 bn in infrastructure in next 5 years

[RisingShiningSuperpower]

I'm confident that under Modi's brilliant leadership, India will outspend China on infrastructure in the next five years. India has the brains and the money to achieve anything. Only leadership was lacking before. With Modi-ji in charge, India will quickly surpass China and America in all aspects and become a superpower by 2020!



http://www.hindustantimes.com/world...ext-5-years/story-Yc9zqbTRTJ4VbhICH1MCDK.html

China to invest $1000 bn in infrastructure in next 5 years
Its economy might be slowing but China has decided to pump in $1,000 billion to speed up infrastructure growth and boost industrial expansion in the next few years, the government has announced.

A three-year action plan focussed on improving infrastructure has been launched, state media reported, adding that more than $720 billion will invested in projects across China.

The plan is to rapidly expand infrastructure where it is needed in the next three years, officials said.

“The plan, jointly issued by the National Development and Reform Commission (NDRC) and the ministry of transport, aims to improve the rapid transit net, basic traffic net and urban transit net, establish an integrated transportation network and better leverage the fundamental role of combination advantage and network efficiency,” state-run China Daily newspaper said in a report on Thursday.

The NDRC is China’s top planning body and frames the country’s future economic plans.

The ambitious plan, according to the newspaper, is pretty specific: It includes 303 projects covering railways, highways, waterways, airports and urban rail transit, with 131 projects in 2016, 92 projects in 2017 and 80 projects in 2018.

Massive investment will be pumped into 54 highways, 50 airports and 10 waterway projects. More than 2,000 km of new railway lines will be added, the report said.

The government will focus on boosting the economy of northeast China, with more than $246 billion being readied for investment in the region that has seen some of the slowest industrial growth in recent years.

“Home to numerous heavy industrial companies and state-owned ranches, the NE region reported some of China's slowest economic growth rates in the first quarter of this year, with even a negative growth in Liaoning Province - the first economic contraction among the country's provincial economies in the past seven years,” a state media report said.

The report said at least three industrial cities in the region witnessed negative growth rate last year: Daqing, known for its enormous oil field managed by the China National Petroleum Corp, and Jixi and Qitaihe, home to coal mines affiliated to debt-laden state-owned Longmay Group.

The new plan for the region will be different from 2003 plans, since those targeted the livelihood of local residents while the new plan aims to transform the local development model, an official said.

 

[Sky lord]

Little did we know that most of that iron ore being shipped to Guangzhou from Rio de Janeiro and Port Hedland, Australia was going to build Chinese cities; cities that would remain vacant for years. China single-handedly topped the phrase “bridge to nowhere” and made ghost cities a euphemism for lousy development planning in the world’s No. 2 economy. Anyone can build a useless overpass, but it takes China to build a city for a million people with no buyers in sight.

The naysayers loved the Western media’s discovery of China’s ghost cities. It was evidence that China’s growth of the last 20 years was based on building things nobody needed or wanted. This was planned obsolescence on a grand scale. And now that the economy is slowing, what will become of those cities? Many of them are debt burdens carried by the developers who haven’t sold a single unit.

From shopping malls to soccer stadiums, hundreds of new cities in China are largely empty. And yet more cities are still being built deep in the heart of the country. All in hopes that its rural population will one day move to a flat in a city without a mayor. It’s plausible, of course. That’s because over the next 15 years, the country’s urban population will be 1 billion; three times that of the United States.

http://www.forbes.com/sites/kenrapo...l-become-of-chinas-ghost-cities/#17329795751b


More of this???

 

[bobsm]

Little did we know that most of that iron ore being shipped to Guangzhou from Rio de Janeiro and Port Hedland, Australia was going to build Chinese cities; cities that would remain vacant for years. China single-handedly topped the phrase “bridge to nowhere” and made ghost cities a euphemism for lousy development planning in the world’s No. 2 economy. Anyone can build a useless overpass, but it takes China to build a city for a million people with no buyers in sight.

The naysayers loved the Western media’s discovery of China’s ghost cities. It was evidence that China’s growth of the last 20 years was based on building things nobody needed or wanted. This was planned obsolescence on a grand scale. And now that the economy is slowing, what will become of those cities? Many of them are debt burdens carried by the developers who haven’t sold a single unit.

From shopping malls to soccer stadiums, hundreds of new cities in China are largely empty. And yet more cities are still being built deep in the heart of the country. All in hopes that its rural population will one day move to a flat in a city without a mayor. It’s plausible, of course. That’s because over the next 15 years, the country’s urban population will be 1 billion; three times that of the United States.

http://www.forbes.com/sites/kenrapo...l-become-of-chinas-ghost-cities/#17329795751b


More of this???

That article was 2015. Try this article below from 4/2016. Of course, only time will tell if and when the other cities will also be filling up with people, but at least for Kangbashi, ordos, it is working. Great job, China.

The first reports that labeled Ordos’ Kangbashi district a “ghost town” came out in 2009. Both an Al Jazeera reporter as well as a Time Magazine photographer delivered stories which highlighted the lack of people living in the new city, and in the process brought China’s ghost city phenomenon into global consciousness. Neither of these reporters bothered to ask the local government or anyone involved in building the new district about why they observed so many empty buildings, a fact that the city’s administration later pointed out in disgust. Also, what was merely glossed over in these stories was the fact that construction only began a mere six years before — a scant amount of time for a completely new city for hundreds of thousands of people to be reasonably built and populated.
................

Contrary to some claims that continue to describe Kangbashi with adjectives like “empty,” there is actually a substantial population there. As of now, the new city has a daytime population of 100,000 people — 80% of these are full time residents and the additional 20% continue to commute in daily from Dongsheng for work. This is up 30% from when I was last there three years ago, and means that the place is now roughly one-third full. When we consider that all cities in China have a relatively large amount of vacant apartments — Beijing itself is 25% empty — Kangbashi’s head count isn’t too out of the ordinary for a new city at its stage of development.

http://www.forbes.com/sites/wadeshe...t-ordos-kangbashi-is-like-today/#fd4407f1e083

 

[Sky lord]

That article was 2015. Try this article below from 4/2016. Of course, only time will tell if and when the other cities will also be filling up with people, but at least for Kangbashi, ordos, it is working. Great job, China.



http://www.forbes.com/sites/wadeshe...t-ordos-kangbashi-is-like-today/#fd4407f1e083

Wow...this is worse than I thought!!

You are saying Beijing is 25% empty??

And this ghost city is only 30% a full 6 years after it was built??

Why are you spending another trillion on infrastructure when you are obviously over developed?

This kind of nonsense could only happen in a communist country where centralized planning takes the place of regulated but organic growth. It would not have happened in HK or Taiwan where media would have long ago forced a better allocation of infra dollars.

"When we consider that all cities in China have a relatively large amount of vacant apartments — Beijing itself is 25% empty — Kangbashi’s head count isn’t too out of the ordinary for a new city at its stage of development."

 

[My-Analogous]

Little did we know that most of that iron ore being shipped to Guangzhou from Rio de Janeiro and Port Hedland, Australia was going to build Chinese cities; cities that would remain vacant for years. China single-handedly topped the phrase “bridge to nowhere” and made ghost cities a euphemism for lousy development planning in the world’s No. 2 economy. Anyone can build a useless overpass, but it takes China to build a city for a million people with no buyers in sight.

The naysayers loved the Western media’s discovery of China’s ghost cities. It was evidence that China’s growth of the last 20 years was based on building things nobody needed or wanted. This was planned obsolescence on a grand scale. And now that the economy is slowing, what will become of those cities? Many of them are debt burdens carried by the developers who haven’t sold a single unit.

From shopping malls to soccer stadiums, hundreds of new cities in China are largely empty. And yet more cities are still being built deep in the heart of the country. All in hopes that its rural population will one day move to a flat in a city without a mayor. It’s plausible, of course. That’s because over the next 15 years, the country’s urban population will be 1 billion; three times that of the United States.

http://www.forbes.com/sites/kenrapo...l-become-of-chinas-ghost-cities/#17329795751b


More of this???

Blind hatred at its best. Keep it up

 

[bobsm]

And this ghost city is only 30% a full 6 years after it was built??

Even the author thinks otherwise.

"Also, what was merely glossed over in these stories was the fact that construction only began a mere six years before — a scant amount of time for a completely new city for hundreds of thousands of people to be reasonably built and populated."

It obviously requires more time to fill those new built cities.

This kind of nonsense could only happen in a communist country where centralized planning takes the place of regulated but organic growth. It would not have happened in HK or Taiwan where media would have long ago forced a better allocation of infra dollars.

Boy, you sure sound like you know your stuff. I'm sure if the leaders of China were like you, China would be as advanced as India. After all, India is a vibrant democracy, where its media plays a crucial over-sighting role in its advancement.

By the way, most of our(Taiwan) progress were made during the martial law era, or kmt dictatorship, which was not lifted until 1987, when we became a high income economy. We didn't even have our real election until 1996. Also, read up on our "Ten Major Construction Projects", the ten crucial central govt projects which would be the bases in accelerating our industrialization. Believe me, even today with full democracy, we still have plenty of wasteful spending, or in American term, pork barrel.

 

[Zee-shaun]

1000 billion? Isn't that a trillion in common English?

I read the off-topic first paragraph in the OP and couldn't stop laughing. It's hilarious to even compare the infrastructure projects between two countries, let alone dreaming to surpass Chinese growth in infrastructure. The biggest difference is that if China wants to build something, she delivers. And India needs decades to have the smallest plans passed thru the center.

 

[The Sandman]

I read the off-topic first paragraph in the OP and couldn't stop laughing. It's hilarious to even compare the infrastructure projects between two countries, let alone dreaming to surpass Chinese growth in infrastructure. The biggest difference is that if China wants to build something, she delivers. And India needs decades to have the smallest plans passed thru the center

Dude OP was being sarcastic in his post

 

[Sky lord]

Even the author thinks otherwise.

"Also, what was merely glossed over in these stories was the fact that construction only began a mere six years before — a scant amount of time for a completely new city for hundreds of thousands of people to be reasonably built and populated."

It obviously requires more time to fill those new built cities.



Boy, you sure sound like you know your stuff. I'm sure if the leaders of China were like you, China would be as advanced as India. After all, India is a vibrant democracy, where its media plays a crucial over-sighting role in its advancement.

By the way, most of our(Taiwan) progress were made during the martial law era, or kmt dictatorship, which was not lifted until 1987, when we became a high income economy. We didn't even have our real election until 1996. Also, read up on our "Ten Major Construction Projects", the ten crucial central govt projects which would be the bases in accelerating our industrialization. Believe me, even today with full democracy, we still have plenty of wasteful spending, or in American term, pork barrel.

The most advanced countries in the world are ALL democracies. Enough said.

If you think it is OK to keep building empty cities in the hope that some day they will fill up, then good for you. I couldn't care less.

 

[Götterdämmerung]

The most advanced countries in the world are ALL democracies. Enough said.

If you think it is OK to keep building empty cities in the hope that some day they will fill up, then good for you. I couldn't care less.

Why haven't you become advanced already?