Subway Boom is the "Curse" to Local Finance
ANBOUND
Recently, there are more than 70 subway routes under construction in Mainland China with the total investment of 800 billion yuan. The total amount would reach 1.5 trillion yuan if inclusive of the previous approved subway projects. No doubt, the massive construction will increase local governments' financial pressure. In addition, the burden of follow-up operation will become the financial "curse" the cities.