Big lenders ex­tend support to rail­way fi­nanc­ing plan

China Daily (Canada) - - BUSINESS -

The coun­try’s four largest banks have bought shares in China’s new rail­way de­vel­op­ment fund, a 21st Cen­tury Eco­nomic Her­ald re­port said quot­ing sources fa­mil­iar with the mat­ter. There is still a huge gap be­tween the ini­tial in­vest­ments and the planned fund-rais­ing ca­pac­ity in the long term, said the source. The rail­way de­vel­op­ment fund, es­tab­lished in late Septem­ber, is con­sid­ered as a con­crete step in the coun­try’s rail­way in­vest­ment and fi­nanc­ing re­form.

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