Guangzhou to invest 63b yuan in rail network

Guangzhou plans to spend 63 billion yuan (HK$74.58 billion) to expand its railway system in the next five years, the city's reform and development commission says.

A draft plan revealed at the annual meeting of the city's people's congress, which opened yesterday, said it would build three more metro lines - taking its total to 11 - and push ahead with constructing intercity rail links.

It is part of Guangzhou's plan to improve public transport and people's livelihoods in the next five years.

Guangdong party boss Wang Yang said it was time for people in the province - many struggling with high inflation, exorbitant taxes and unaffordable homes - to feel happy and he recently pledged to slow down Guangdong's annual economic growth rate from 12.5 to 8 per cent during the 12th five-year plan.

Speaking at the meeting's opening ceremony yesterday, Guangzhou mayor Wan Qingliang set 10 specific goals for improving people's living standards as the city works to boost residents' incomes, fight inflation and provide more affordable housing. The provincial capital's gross domestic product increased by 13 per cent last year and it is targeting growth of 11 per cent this year.

Guangzhou also plans to alleviate poverty in eight towns and 206 villages in the city's north, aiming to lift average annual incomes to at least 5,000 yuan by next year.