Xinhua, Beijing :
Chinese Premier Li Keqiang has encouraged the China Railway Corporation (CRC) to further emancipate the mind and seek more social capital, the central government’s website reported Sunday.
“Railway construction invested solely by the government and promoted by administrative orders will not work any more,” said the premier during an inspection tour to the CRC on Friday.
Li said innovations in investment and financing are key to reform in the railway sector. He asked the CRC to explore ways of better soliciting non-governmental funds and gather experience for other state-owned enterprises.
“Railway development is multifunctional as it can stabilize economic growth, enhance social harmony and push forward urbanization,” said the premier.
China spent a lot on railways in recent years and attached great importance to reforming railway investment and financing mechanism since the CRC’s inception in March 2013.
