THE country’s investment in railway construction in the Yangtze River Delta area is expected to exceed 75 billion yuan (US$11.64 billion) this year, the Shanghai Securities News reported yesterday, quoting sources at China Railway Shanghai Group Co.
The paper reported that rail construction investment in the area is expected to reach 1 trillion yuan in the 14th Five-Year plan period through 2025.
NEV battery output
THE country’s output of storage batteries to power new energy vehicles (NEVs) leaped 161.7 percent year on year to reach 19.5 gigawatt-hours (GWh) in August as its NEV industry continued to boom, industrial data showed.
Sales of NEVs in China hit a record high of 321,000 units last month.
THE People’s Bank of China raised the quota of special central bank lending by 300 billion yuan to provide stronger support for micro, small and medium-sized enterprises facing difficulties.
The funds released will be channeled to eligible locally incorporated banks at preferential interest rates over the next four months. In turn, this will encourage the banks to issue more loans to micro and small businesses and self-employed businesses at rates around 5.5 percent on average.