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China to invest US$5 billion in water transport over four years
POSTED: 8:28 a.m. EDT, July 18,2007
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Bejing plans to spend CNY40 billion (US$5.2 billion) on water transport facilities during the 11th-five-year period (2006-2010).
Xinhua reports this is twice the investment made on water transport during the 10th-five-year period (2000-2005).
Ministry of Communications Planning Director Dong Xuebo said CNY20 billion will be spent on river transport and that state investment would stimulate corporate and private development, worth an estimated CNY100 billion.
During the past few years, China focused more on the construction of highways and expressways, Xinhau said. But severe land and energy shortages as well as pollution problems have induced Beijing to adopt greener policies.
Compared to land transport, water carriage has greater capacity and costs less in terms of energy consumption and results in less pollution, the report said.
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