China Railway Corp (CRC)’s plans to issue 300 billion yuan (USD 44.91 billion ) of bonds have been approved by the state planner. Two-thirds of the funds raised by CRC will be used for railway construction purposes. The remaining sum will be used towards debt restructuring, the National Development and Reform Commission said.
CRC will issue the first batch of 170 billion yuan (USD 25.4 billion ) bonds this year, with the money going to projects such as a rail link connecting the northeastern cities of Beijing and Shenyang as well as rail logistic centres.
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