Monday, Sep 11, 2017SearchArchiveChineseChineseJapaneseFrenchSpanishRussianArabicKoreaGermanPortugueseHomeOpinionsBusinessMilitaryWorldSocietyCultureTravelScienceSportsSpecial CoveragePhotoVideoEnglishChina’s first private high-speed railway project signed in HangzhouBy Li Yan (Peoples Daily Online)    17:15, September 11, 2017For the first time, Chinese private companies have a bigger stake than the government in a 44.89 billion yuan ($6.89 billion) high-speed railway project in east China.On Sept. 11, Shanghai Fosun High Technology signed an agreement with the government of Zhejiang in eastern China to invest in the railway, China National Radio reported. Chinese private companies, led by Fosun, will own 51 percent of the equity for the project.It is the first time private companies in China have a controlling share in the railway infrastructure sector. The railway, a 269-kilometer link between Hangzhou, capital of Zhejiang and Taizhou, is designed for an hourly speed of 350 kilometers.The railway will be completed in four years and will operate for 30 years. It will adopt the Public-Private Partnership (PPP) scheme, under which the private companies bear the responsibility of income collection, railway construction, operation, and maintenance. After the operation period, the responsibility will be handed over to the Zhejiang Government or its designated organizations.Li Hongchang, deputy director of the Chinese Transportation Economic Research Center, said the first private high-speed railway project will encourage Chinese private companies to participate in the country’s infrastructure construction and promote the marketization of Chinese railways.var addthis_config = {"data_track_addressbar":false};(For the latest China news, Please follow Peoples Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)Add your comment/* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * */var;var disqus_shortname=;var disqus_identifier=;if ({disqus_shortname=enpeople;disqus_identifier = 9267423;}/* * * DONT EDIT BELOW THIS LINE * * */(function() {var dsq = document.createElement(script); dsq.type = text/javascript; dsq.async = true;dsq.src = // + disqus_shortname +;(document.getElementsByTagName(head)[0] || document.getElementsByTagName(body)[0]).appendChild(dsq);})();Please enable JavaScript to view the comments powered by Disqus.Related readingChina Railway Express to sprawl wider, faster in China, EuropeChina-Laos railway enters phase of comprehensive constructionSenior Chinese official to attend Malaysian railway ceremonyRailway linking Changchun, Baicheng and Ulanhot in test operationChina railway investment up 1.9 pct in H1Thailand-China railway serves Thailands long-term development: Chinese FMA railway journey that led to a lifetime storyRailway linking 7 provinces, regions expected to be in operation in 2020New high speed railway linking Baoji, Lanzhou starts operationChina to build worlds most challenging railwayWe RecommendPitaya flower: blooms for one night, yields delicious fruit
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