World Economy

China Highways Bleeding Money

China Highways Bleeding MoneyChina Highways Bleeding Money

China is losing more than $10 billion a year from its expressways, state media reported on Wednesday, despite levying hefty tolls on the world’s largest highway network. China spent $69 billion (431 billion yuan) on building, maintaining and operating highways in 2013, but only took in 365 billion yuan from tolls, the China Daily reported, citing the Ministry of Transport. Under current regulations, local transport bureaux can collect tolls for 15 years to recoup the cost of building highways. But many have also applied for extensions for what they say are maintenance costs.