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Planner passes down investment authority

China's top economic planner announced on Wednesday that it would pass down most of its authority to approve transport investment to local officials. Provincial governments will be authorized to examine and approve feasibility reports for new expressways, some bridges and tunnels, and normal-speed regional railways, according to a statement from the National Development and Reform Commission. The projects will still need to be recorded by the central government. The construction of academies and research institutions concerned with transportation will also be covered by the new policy. Rail lines, if mainly funded by China Railway Corp, the country's railway operator, can be determined by the company itself.

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