Fund aims to enhance transport connections

Regional transport integration among Beijing, Tianjin and Hebei province is expected to speed up after the establishment of a 100 billion yuan ($14.52 billion) development fund for financing the construction of intercity railways.

The Beijing-Tianjin-Hebei Intercity Railways Development Fund, jointly established by a State-owned investment company, 11 banks and a fund management company, was set up on Tuesday and will raise 60 billion yuan at its initial stage.

Around 70 percent of the fund will be used to construct intercity railways in the region, while the rest will be used to finance land development projects along the lines.