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MessagePosté le: Sam 8 Sep - 05:25 (2018)    Sujet du message: device Mark Scheifele Jersey ficant blame Répondre en citant

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China's railway construction boom will help boost the struggling steel, cement, glass and other heavy industries to put the country's economic growth on a firmer footing in the second half of this year.


Earlier economic indicators suggested that China's 2014 first-half growth had slipped below the annual target of 7.5 percent, which pushed the government to take more decisive measures to manage a healthy growth pace.


China Railway Corp, the country's railway operator, raised the 2014 railway fixed assets investment budget from 720 billion yuan ($116.47 billion) to 800 billion yuan in May, a clear attempt to kick-start its slowing economy. The investment will be used in the construction of 48 new railway projects in the second half of this year.


Zhao Jian, a professor of railway development at Beijing Jiaotong University Harold Baines White Sox Jersey , said accelerating railway construction will certainly help China increase the effective demand for steel, cement and other heavy industries, while absorbing overcapacity.


The country produced 411.91 million metric tons of crude steel in the first half of 2014, or 3 percent higher than a year ago. In the meantime, pig iron output grew 0.5 percent year-on-year to 362.02 million metric tons, while rolled steel production increased 6.4 percent to reach 552.25 million metric tons.


However, data from the China Iron and Steel Association show the steel industry has excess capacity between 180 million metric tons and 240 million metric tons. Chinese steelmakers have incurred huge losses.


China aims to extend the total length of track being constructed to more than 7,000 kilometers this year Frank Thomas White Sox Jersey , up 25 percent from the actual construction completed in 2013.


"In comparison with other economic stimulus packages, railway construction investment is a practical way of supporting the job market and has an immediate effect to support the country's growth," said Zhao. "It will also push forward urbanization and reduce regional inequality."


Wang Mengshu, an academic at the Chinese Academy of Engineering, said the new round of expansion should cover every provincial capital in the country, bringing with it vast economic benefits, especially in western China.


China has 100,000 km of railway Early Wynn White Sox Jersey , to serve a population of 1.37 billion; yet the United States has 272,000 km of track for a population of 300 million people.


"The expansion of various railways, including high-speed, freight rail and more intercity services, can bring so much more than just convenience. It has the ability to change people's lives and the country's trade structure, and as a result I foresee much better dispersal of the population," Wang said.


To gain sufficient funds for these new rail projects, the central government in July unveiled a guideline on management of a fledgling railway development fund to attract private investment into the railway sector.


The China Railway Development Fund managed by the CRC will last for 15 to 20 years and could be extended if approved by the State Council. The CRC will sign agreements with private investors and propose the amount of annual fundraising.


The fund will be prevented from being invested in high-risk investments such as guarantees Derek Holland White Sox Jersey , futures or derivative financial products.


He Jingtong, professor of finance at the Tianjin-based Nankai University, said even though it is a flexible improvement to raise funds from the public, the CRC's debt is too high and it still has administrative and monopoly operation power. Therefore, it won't be easy for investors to buy the new railway bond or stocks within a short period.




MANILA, April 29 (Xinhua) -- The 30th Association of Southeast Asian Nations (ASEAN) summit kicked off here on Saturday.


The following is a brief introduction of the Philippine capital.


Metropolitan Manila, commonly known as Metro Manila or simply Manila, is the capital region of the Philippines Carlton Fisk White Sox Jersey , the seat of government, the second most populous and the most densely populated region of the country.


The National Capital Region (NCR) is composed of Manila, the capital city of the country, Quezon City, the country's most populous city, and the cities of Pasay, Caloocan, LasPinas Carlos Rodon White Sox Jersey , Makati, Malabon, Mandaluyong, Marikina, Muntinlupa, Navotas, Paranaque, Pasig Bobby Jenks White Sox Jersey , San Juan, Taguig and Valenzuela, as well as the municipality of Pateros.


The NCR, with an area of 619.5 square kilometers, has a population of 12.8 million, making it the second most populous region in the Philippines, as well as the ninth most populous metropolitan area in Asia.


The region was established in 1975 in response to the needs to sustain the growing population and for the creation of the center of political power and the seat of the Philippine government.


The region is the center of culture, economy Bo Jackson White Sox Jersey , education and government of the Philippines. NCR is one of the 12 defined metropolitan areas in the Philippines, according to the National Economic and Development Authority.


Designated as a global power city, NCR exerts a significant impact on commerce, finance, media, art, fashion, research Bill Melton White Sox Jersey , technology, education, and entertainment, both locally and internationally. It is home to all the consulates and embassies in the Philippines, thereby making it an important center for international diplomacy in the country.


Its economic power makes the region the country's premier center for finance and commerce. NCR accounts for 37.2 percent of the gross domestic product of the Philippines.


Aerial view of Taiyuan in north China's Shanxi


UN Security Council meets to discuss DPRK nuclear issue


Aerial view of Tianmenshan scenic area in central China's Zhangjiajie


Second fence is ready at Hungarian-Serbian border: minister


Models present creations at Vietnam Int'l Fashion Week


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