China issues new bonds to finance railway investments

The Ministry of Railways announced to raise CNY 20 Billion (EUR 2.5 Billion) through a bond issuance to finance the construction of the country’s railway projects.

The offering will be the fourth batch this year. The ministry aimed to speed up railway project construction this year, but had problems in completing projects in the first half of this year, due to capital shortages.

The total fixed asset investment amount is planned to reach CNY 516 Billion (EUR 65 Billion), but only around one-third of its planned amount in the first half of this year, according to the MOR.

Source: www.globaltimes.cn

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