China’s highlights economy-boosting infrastructure push with mega US$10 billion canal project
- The 135km-long (84 miles) Pinglu Canal in the Guangxi Zhuang autonomous region will link up Xi River with ports in the Beibu Gulf
- Costing 72.73 billion yuan (US$10.5 billion), the project will take four and a half years to build as part of China’s renewed effort to use infrastructure to aid the economy
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China launches mega US$10 billion canal project in a bid to help its economy
China kicked off the construction of a landmark 72.73 billion yuan (US$10.5 billion) canal in its southwest over the weekend as part of its latest efforts to use infrastructure to aid the distressed economy.
The 135km (84-mile) Pinglu Canal in the Guangxi Zhuang autonomous region is set to link up the Xi River with ports in the Beibu Gulf, also known as the Gulf of Tonkin.
Officially approved in March, the project was first brought up in the provincial government’s agenda in 2018, with construction set to last four and a half years.
“This year’s infrastructure construction has been accelerated significantly compared with the past few years, to stabilise growth,” said Larry Hu, chief China economist at Macquarie Group.
It will be China’s first new canal since 1949 and will provide a shorter route to the sea for inland areas in southwest China.