129760833653593750_66Financial risks of China highway construction total size over 5 trillion debt looming
Road construction debt risk worries surfaced. On the two sessions this year, CPPCC National Committee members, the HKEx group Li zhijun
tera power leveling, Deputy General Manager of China highway engineering consulting group has submitted the proposal on further improving the policies of toll road. Proposal says that the highway industry total size over 5 trillion of debt, debt risks appeared. Experts say, Highway 5 trillion in debtHide a large financial risk, needs to diagnosis of the current situation of highway construction, preventing blindly promoting some local governments. "In June 2011, five ministries such as Ministry of transport launched special cleanup work for toll roads, according to the results of phase I investigation thoroughly, until the end of 2010, national toll highway mileage of about 156,000 km, the accumulated debt totaled 2.35 trillion yuan, which loans to 2.13 trillion dollars, other debt totaled 220 billion yuan, the only toll road this debt, road industry is not equivalent to the national debt, coupled with the construction of toll roads, revoked the Government repay the secondary road, bundling of loans and financing platform for matching funds and other forms of debt, highway debt total is expected to be more than5 trillion dollars. "The proposal pointed out. According to the traffic system, who asked not to be named told reporters, as the local toll "withdrawal" and financing platform for clean up, the local Government has no money to repair, trunk road construction risk area come to a halt. Academy of Professor Zhang Xiaode to reporters of the economic information daily, highway industry is massive debt, Main reason was that local government revenue forecast based on good, optimistic about future economic growth. If China's economy to maintain healthy growth, roads within the scope of these liabilities will be relatively safe; but if economic growth lower than expected, then these will increase the risk of indebtedness. Investment investment system and policy, Institute of national development and Reform Commission Wu Yaping, Deputy Director of the Institute on the press tableAs shown in the toll road is the current main tests of short-term liquidity risk and non-toll roads, that is, through the financing of local government platform construction of ordinary road, there is a larger debt risk. "Highway construction funds for financing a large proportion of local financing platforms, it also poses a greater financial risk on Bank", national development and Reform Commission, the Institute of comprehensive transportation of transportation technologyExhibition, Guo Wenlong, Director of the Research Center said. In the view of Professor Zhao Jian, Beijing Jiaotong University, is debt highway are at greater risk of "highway construction financing than railway or serious, but scattered in various provinces and cities". Sources, many provincial and municipal highways meet the total size total size is more than the interest income. 2012 highway infrastructure funds moreBecause "some of the budget in 2011 to 2012 overdrawn. "Construction of highway capital comes mainly from vehicle purchase tax, fuel taxes and road tolls, 2011 vehicle purchase tax was 331.8 billion yuan of special funds, including $ 44.8 billion in 2010, the surplus in 2011, xiabo, vehicle purchase tax budget for 2011 funding $ 187 billionAnd 2011 early 2012 budget funds earmarked 100 billion yuan. In addition, fuel tax in 2011-2012 year budget of $ 78.1 billion. But even in this case, many local governments are vigorously promoting the construction of Expressway in highway infrastructure, in particular, and this investment greater than 2011. Two sessions on theMessage display, Henan Province highway construction investment $ 36.5 billion in 2011, 2012, plans to invest $ 44.5 billion for highway construction; completed Expressway in Fujian province in 2011 47.56 billion yuan investment, plans for 2012 complete the construction investment of $ 48 billion and strive to complete the $ 51 billion. Insiders pointed out that the highway construction in our country and in particular high speedHighway construction should be in accordance with the "Twelve-Five" plan, promote, and blindly promoting the construction of local governments must not be allowed to avoid both waste and increase the debt situation. National development and Reform Commission has releases on highway construction "brakes" signal. In February of this year, national development and Reform Commission, Foundation Secretary Huang Min has said, in the next period, IState Highway construction will be in accordance with the priorities, classification guides, the principle of differentiation to arrange, there are other similar or parallel sections of the highway to replace, to study the construction time, you can "Twelve-Five" building in the future; some have been built according to Highway standards, on the road to meet traffic demand within a certain period, could be deferred to "Thirteen-Five" then considerBuilding. "There is such a large investment is required on the highway is really needs to consider
diablo 3 power leveling, I know of a highway between the two cities, fast-track, to light rail on the project. "Zhang Xiaode, insufficient investment in infrastructure in some places, some parts of excess investment, should comment on the investment behavior of local government. Zhang Xiaode believes that the currentMain task is not to manage the risk of 5 trillion, first of all, the desire to curb local government investment expansion, termination of risk spreading and not do not need so many highways, wanted to finish in two years in many places over the next five years of planning, followed by assessment of this $ 5 trillion in debt and inventory, look at the areas in which it set, which can be repaid, whichSome risk is likely to stand out in the short term, those problems are solved, which is hardly come up with concrete measures. For the road industry financing difficulty of the current problems
diablo 3 power leveling, a number of members from the transport system, in highway construction funds, lack of public financial investment (currently about 2%), you should increase the intensity of State financial support for road construction, on the toll road construction investment realLow interest loans, in order to defuse road debt risks. Li zhijun told reporters the economic information daily said the current mode of Expressway toll can continue, because the highway is of high quality and value added services provided. But at the same time should ensure that secondary Highway as the trunk road network of the applicable principle of Pratt and Whitney and free of charge, using public funding to maintain operations. OnWhich have been accumulating debt, combined with Central and local finances appropriately phased, solution. In addition, proposed by the central finance transfer payments, set up funds for highway construction, slowly rolling the other way. He also recommended the development of franchise law, giving investors Highway franchises, including private enterprises, to specification the responsibility, rights, benefits and guide non-Public enterprises to enter the field of infrastructure construction. Related news: Members propose to remove general road toll has become "cash cow" Jinan Yellow River Bridge toll 28 years more costs 10 times will also charge 5 years related topics: interpretation of five charges NetEase to irregularities in treatment of Highway: Highway why debt "bottomless pit"? Governance toll damage anybody's interests?
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