"We hope to attract more foreign capital, especially investment from the transnational companies, to rebuild the ancient Silk Road," Han Guojie, director of Communications Bureau of northwestern China's Gansu Province, said Wednesday (April 10) in Beijing.
Speaking at the opening ceremony of the first "Transpo Expo China 2002", Han said due to the preferential policy that the government has adopted in western part of China over the past few years, more and more overseas companies have gone there to explore ways for investment.
Han, who has held negotiations with about 50 companies on cooperative projects, expressed the belief that with the gradual improvement of the environment for investment, more overseas capitals will flow in the western areas.
Directors from the transportation sectors in the provinces of Hubei, Hunan, Henan, Anhui, Gansu and Shanxi are attending the exposition to seek more funds for their transportation construction during the 10th Five-Year Plan period.
Fruitful achievements on road construction
Ren Binian, director of Communications Bureau of central China's Hubei Province, said the province plans to invest 50 billion yuan (US$6 billion) in building 1,000 kilometers highways, 4,609 kilometers roads and 10 bridges in the coming five years.
It will raise the money from loans and other channels, Ren said.
Since the Western Development Strategy was implemented in 1999,over 3,300 kilometers highways have been built in the western areas.
The annual investment for China's road construction had surpassed 200 billion yuan (US$24 billion) from 1998 to 2000 and the investment last year topped 260 billion yuan (US$31 billion).
( April 11, 2002)
