Banks capital should not go idle, People’s Daily says
The chain of capital is getting longer as money is not reaching the real economy, with higher financial costs and hidden risks, People’s Daily said in a commentary on Monday. A solution would be for banks to look for the right industry and company to invest in, and financial innovation should also serve the real economy, the report added.
16 cities prevent asset management programs investing in housing
Local governments in 16 hot spot cities will not accept property investment filings from private asset management programs, including entrusted loans and investment trust plans, Caixin said on Monday night, citing a document released by the Asset Management Association of China.
Work starts on 35 new railroad projects this year
Investment in the rail industry in 2017 is expected to exceed last year’s with work starting on 35 new railroad construction projects this year, an Economic Information Daily report said on Tuesday. In 2016, the total fixed asset investment in the railway industry stood at 801.5 billion yuan (US$116.53 billion).
2016 investment in partnerships hit 2.2 trillion yuan
Total investment in Public-Private Partnership (PPP) projects reached 2.2 trillion yuan in 2016, Caixin reported on Monday night. The PPP Centre of the Finance Ministry said out of 11,260 proposals filed, the number of PPP projects signed and where construction had begun stood at 1,351.
Ticket prices on high-speed rail in southeast to rise by up to 70%
Trains with speeds of between 200km/h and 250km/h would see a 25% to 30% rise in ticket price for second-class, or coach, seats and around 65% to 70% for the first-class, Caixin reported on Monday. This is the first time the China Railway Corporation raised prices after receiving in 2015 the right to set its own price for high-speed rail services.