China

It seems a bit early to us, wishful thinking maybe, but they call it the "Spring Festival" season in China -  the last two days of the Lunar New Year January 25, 26.  Spring festival time is China's major annual time for getting on the road to visit family and friends. And it's a national tradition to go to one's "native" village in the countryside.

So this is the time of the year when the expressways are most heavily trafficked.

China Daily is reporting that a bunch of state toll authorities in China are defaulting on bonds by announcing an "extension" of their loans. And the country's regulator says it's OK.

Three Chinese cities are planning to introduce urban congestion charges within the next few years in a bid to head off worsening gridlock – the national capital Beijing (pop 20 million); Shenzen, the financial capital of southern China (pop 9 million); and Chongqing, a major automotive production center in the south west of country (pop 29 million). In 2009, China overtook the US to become the world's largest auto market.
 

Shi Jianfeng of Henan province in China got life imprisonment for toll evasion and fraud Tuesday, according to Xinhua newsagency. Prosecutors said that Shi, who sold sand, evaded expressway tolls totaling Y3.86m ($525,000) in some 2,362 trips past toll points.

Army vehicles go toll-free in China.

In Shanghai there are celebrations for the opening of a spectacular toll bridge and tunnel expressway linking Chongming Island in the mouth of the Changjiang (Yangste) River. Named the Changjiang Tunnel-Bridge Expressway it consists of an 8.9km (5.5 mile) tunnel between Shanghai's Pudong area and a small island, and then a 10km (6 mile) cable stay bridge to the large Chongming Island.  

We quote: "Hang Seng Index finishes 0.8% higher at midday

"Sep. 11, 2009 (China Knowledge) - Hong Kong stocks swelled 167.92 points or 0.8% to end the morning session at 21,237.48 points, with mainboard turnover standing at HK$33.9 billion.

July 2 2009 should be recorded as an important date in tollroad history. It was the day Chinese regulators gave the green light to Sichuan Expressway Company's Initial Private Offering (IPO) of shares in Shanghai, while in Texas, USA the legislature adjourned for 18 months slamming the door on investor pikes.

Beijing's Xinhua news agency reports attempts by the central government of China to assert control over provincial government initiatives in building tollroads.

Macquarie is making its first move in the the huge but uncertain toll business in China. A Macquarie fund MIIF (Macquarie International Infrastructure Fund) based in Singapore has bought an 81% interest in the Hua Nan Expressway (HNE), an urban tollroad in Guangzhou, the major city of Guangdong province, right by Hong Kong.

The World Bank is kowtowing to the Chinese government over a report critical of its handling of its massive toll expressway program. China has dozens of Robert Moseses pushing through great highway projects against all kinds of opposition and with rather little regard for the environment, equity, and planning.