China's first private high-speed rail project gets $4 billion financing: Xinhua By Reuters

China's first private high-speed rail project gets $4 billion financing: Xinhua

Stock MarketsApr 27, 2019 12:25AM ET

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China's first private high-speed rail project gets $4 billion financing: Xinhua

BEIJING (Reuters) - China's first privately-controlled high speed railway project signed a loan contract for 28.1 billion yuan ($4.18 billion) on Friday, the official Xinhua News Agency reported.

Xinhua said China Development Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and two others will provide the loan for the project, which is controlled by a consortium led by Fosun International Ltd and the Zhejiang provincial government.

Total investment planned for the railway project is about 44.89 billion yuan, the report said.

China has ramped up measures to support private companies by resolving its high costs and difficulties in financing as growth in the world's second largest economy is facing increasing downward pressure.

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Comments (1)

Chris Sundo Apr 27, 2019 12:56AM ET

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Anything said about China is not trustworthy without independent audit by western standards. Therefore it is unreasonable for the Reuters story authors to take statements made by Chinese sources and pass them on into the western news domain without a disclaimer such as "Notice to Reader: These statements have been integrated into this article without verification or audit by western standards about truthfulness or completeness". === As we have learned from the Huawei hoopla, China has been encouraging its citizens to commit fraud in western countries and expect to be protected by China's financial prowess, and therefore made feel better that the fraudulent Chinese citizens get away with the fraud. === Westerners can simply not take for bare coin or trust anything sourced in China that is said to be "private" or "independent". === Conclusion: Waste of time to read anything commented about China.

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Bill Bigsby Apr 27, 2019 12:56AM ET

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Wow. You sure have a lot of nothing to say about something you deem to be a waste of time.

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Lisa Shen Apr 27, 2019 12:56AM ET

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Should listen to people who has a grain of wisdom

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China's first private high-speed rail project gets $4 billion financing: Xinhua

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