Liaoning puts cash into transport and telecoms
LIAONING province poured huge amounts of money into transportation and telecommunications industries last year, which grew 60.3 per cent over 1992, according to Xinhua (the New China News Agency).
Investment in these sectors reached 1.87 billion yuan (about HK$1.64 billion) in 1993, accounting for seven per cent of the province's total capital construction funds.
These fast-growing industries boosted Liaoning's gross national product by 28 per cent last year.
The Shenyang Railway Bureau, the biggest of its kind in China, raised 448 million yuan in 1993 to back the construction of major projects both within and outside the province.
The 147-million-yuan Dayaowan line was completed at the end of 1993.
It also invested 5.25 billion yuan last year to renovate the Harbin-Dalian line.
In addition, the province set aside 1.37 billion yuan for highway construction, an 82.1 per cent rise from 1992.
The 43.3-kilometre expressway in the south section of the ring road around the capital Shenyang has now opened to traffic.
Construction of the north section of the ring and another expressway from Shenyang to Tieling, a grain-producing city in northern Liaoning, has started.
The province now has 41,638 km of highways and expressways.
Liaoning also earmarked 229 million yuan for port development in 1993, attracting a record US$83 million in foreign investment.
The construction of China's biggest ship repair yard, a joint venture between Dalian Ocean Shipping Company and a Hong Kong firm, has started at Dalian Bay.
Four berths are already in operation and another six are under way.
In Jinzhou one 10,000 deadweight tonnes (dwt) bulk cargo berth has been built, boosting the handling capacity of the port to 300,000 dwt.
In Dandong, the building of another three 10,000-dwt berths has been completed.
Meanwhile, foreign investment in Liaoning's postal department amounted to US$93 million.
Annual postal and telecommunications business volume and income jumped by 55.7 per cent and 51 per cent, respectively, in the same year.