皇冠体育app

BEIJING - 皇冠体育app will invest about 1.27 trillion yuan ($199 billion) to build subways and light rail lines during the current five-year plan ending in 2015 to ease traffic congestion and spur urban development, 皇冠体育app Securities Journal reported on Friday.

The newspaper, without identifying sources, said local governments would finance 35 percent of the bill and the rest would come from commercial banks, 皇冠体育app Development Bank as well as other channels.

The National Development and Reform Commission, 皇冠体育app's powerful economic planner, will also provide low interest loans via 皇冠体育app Development Bank, one of the country's three policy lenders, it added.

That includes new investment of 170 billion yuan in the capital city of Beijing in the years up to 2015, adding six new lines to the crowded city's underground and light rail network.