The Guangxi provincial government has applied to the China Securities Regulatory Commission (CSRC) to list its roads in Hong Kong, possibly at the end of the year or next year. A Guangxi Bureau of Communications official said it was not yet known whether it would form part of the next group of mainland companies allowed to list abroad. Commission chairman Zhou Zhengqing said the fifth batch of companies would soon be announced with the sixth grouping ready by the end of the year. The Guangxi official said the proceeds and the timetable would hinge on market conditions. A major asset in the listing portfolio would be the 100-kilometre Nanning-Qinzhou highway, he said. The highway was developed by the Guangxi government with an investment of about two billion yuan (about HK$1.86 billion). It is a four-lane highway with designed capacity of 45,000 vehicles a day. Opened last year, it should be fully operational by December. Daily traffic flow is about 6,000 vehicles. The Guangxi official said the listing vehicle would only comprise completed roads. Another bureau official said this year's development plan had been revised following Beijing's decision to boost infrastructure investment. This would see a planned 45 billion yuan investment in roads up to 2002, up from 23 billion yuan, adding 3,000km of roads a year. 'Most of the investment will go to the development of expressways and highways while the roads for towns and villages will account for most of the length,' he said. 'We are just starting from scratch in terms of the development of expressways and highways.' Guangxi, in the southwest of the mainland, only had about 192km of expressways as of last year. The official said about 65 per cent of capital needs would be satisfied by bank borrowings with the rest coming from local governments and the Ministry of Communications. Listing was one way to meet investment needs, he said. There were at least six other key highways, including one between Liuzhou and Nanning, that would need investment, he said.