Since the beginning of this year, Gansu province has been actively advancing transportation investment and financing reforms. In an effort to overcome funding challenges for infrastructure projects, the province has been vigorously promoting the construction of "Three Major New Expressway Corridors," demonstrating strong momentum in transportation investment.

Gansu's expressway network continues to expand. [Photo provided to gogansu.com]

Drawing on national policy documents and leveraging the Ministry of Transport's support for innovative toll road policies, Gansu is exploring a new concession model for transportation investment and financing. This model focuses on user-paid projects with potential investment returns, without adding future financial burdens to local governments.

On May 10, Gansu announced the launch of the "Three Major New Expressway Corridors" project, comprising the Northwest Hexi, South-Central Gansu, and East-Central Gansu corridors. With a total length of approximately 4,550 kilometers and an estimated investment of 546 billion yuan ($80.29 billion), the project includes 54 new and upgraded toll road segments suitable for the concession model.

This initiative, aimed at reforming the investment and financing system and boosting effective transportation investment, represents a concrete step towards enhancing connectivity both within and beyond the province. It marks the beginning of Gansu's transportation investment and financing reform.

Data shows that in the first seven months of this year, Gansu's fixed asset investment in transportation reached 37.73 billion yuan ($5.5 billion), accounting for 66.19 percent of the annual target. Several major projects have made significant progress, including sections of the Lanzhou-Zhangye High-Speed Railway, the Zhongchuan Airport Loop Railway, and expansion projects at Lanzhou Zhongchuan and Jiayuguan airports. Other projects, such as the Lanzhou-Hezuo Railway and the Gansu section of the Xi'an-Chengdu Railway, are also advancing rapidly. The construction of ten projects within the "Three Major New Expressway Corridors," with a total investment exceeding 100 billion yuan ($14.71 billion), is expected to begin in October.