Network of roads drives up huge loss
By Zhao Lei | China Daily | Updated: 2014-12-24 07:51
China is experiencing a huge deficit generated by its construction and operation of the world's largest network of expressways, while members of the public continue to blast what they see as unreasonable tolls.
In 2013, local transport authorities and highway businesses across the Chinese mainland received toll revenue of 365.2 billion yuan ($58.4 billion), while their overall expenditure from building, operating and maintaining highways reached 431.2 billion yuan, the Ministry of Transport said on Tuesday in an annual report on toll highways.
Most of the 66 billion yuan deficit was due to bank loans and interest, which cost more than 314 billion yuan, according to the report.
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