[sustran] China acknowledges financial risks of subways

[jane.]

Metros a danger to finances


Expertsfearsmallercitiescan'taffordlines
Followingasurgeinsubwayinvestmentlastyear, constructionofurbanrailsystemsinChinawillcontinuetogrowrapidlythisyear, whichhascausedsomeexpertstoworryaboutthefinancialrisksitcanposetolocalgovernments. 
The total investment in urban rail plans approved last year reached nearly 1 trillion yuan ($160 billion), including 360 billion yuan for projects that have passed feasibility studies, which means these projects can start construction, according to the National Development and Reform Commission.

Full text at
http://www.chinadaily.com.cn/china/2013-01/10/content_16100374.htm