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Beijing to Open 17 New Metro Lines to Social Capitals

2015-03-26 18:15 ChineseTime

Beijing to Open 17 New Metro Lines to Social Capitals

The photo show a subway train in Beijing.

The Beijing Municipal Commission of Development and Reform announced on Wednesday that 17 new metro lines in Beijing would open to social capitals. Subway Line 3, Line 12, Line 17, Line 16, and the New Airport Line that are under planning will be included in this plan.

The local government says that they would like to add a new metro operation company to the current two operators: the Beijing Subway Company and the Beijing MTR Corporation Limited. The new operator could either be an independent company or a combined entity of social investors. The basic principle for all the operators is to ensure safety and efficiency.

In the meantime, new social capitals would also be introduced into the metro lines that are currently under construction, so as to expand channels for funds, and also to increase competitiveness.

Beijing has a great deal of experience absorbing social capitals into local infrastructure projects like Subway Line 4, which has already been completed.

The local government is now working out further details of the plan, for instance, to fix the profit return mechanisms for the social capitals.

On Wednesday, Beijing's local government introduced a slew of 136 proposals to incorporate social capitals into seven key areas of the city's building, including transportation, and environmental protection.

 

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