China has recently approved a number of huge infrastructure projects in an effort to boost its economy. The National Development and Reform Commission (NDRC) has announced that it has greenlit 27 large infrastructure projects that will cost US$219.43 billion. These projects were initially proposed in early 2018. Thanks to the NDRC accelerated review process, all of the projects now have been allocated proper budgets.
The massive infrastructure undertakings are meant to help counteract the recent economic slowdown, which China is hoping will get the economy back up to its previous rate of growth. The move to expand infrastructure has worked before and China is taking a page right out of its own past strategy books. Most of the projects will be made in major provinces with huge potentials in manufacturing and other industries. This includes provinces such as Jiangsu, Guangdong, Guangxi, and Shaanxi.
There are some concerns about China acquiring a lot of debt in the process, but the government's priority to stabilize and boost its economy remains to be its top priority. The projects mainly consist of new railway stations and tracks that will connect different cities and districts around the country. Here are some of the most expensive and biggest projects on China's docket.
Shanghai Urban Rail Transit Expansion
This expansion project will involve the addition of six new subway lines and three new railways connecting different cities. The railway lines are expected to improve the connection between Shanghai's major airports and train stations. The project will cost US$44.23 billion and is projected to be completed in 2023.
Yangtze River Intercity Railway
This project will connect the city of Nanjing with its surrounding cities and districts through a network of regional intercity railways, which will drastically reduce commute times for residents. The project will cost US$34.35 billion and is projected to be completed in 2025.
Wuhan Urban Rail Transit
The project involves the creation of eight new express and metro lines within the city of Wuhan. A circle line with 37 stations will be included. The project will cost US$21.78 billion and is expected to be completed in 2024.
Eastern Guangdong Railway Network
The project will connect different cities in the eastern Guangdong province, which will include Shanwei, Jieyang, Chaozhou, and Shantou. The project will cost US$14.86 billion and is projected to be completed in 2024.
Suzhou Urban Railway
Four new railway lines will be constructed in the city of Suzhou with a new 41-kilometer line connecting it to Shanghai. The project will cost US$13.84 billion and is projected to be completed in 2023.
