Reason: China's economic growth was under great pressure in 2015, and a number of infrastructure projects were needed to drive economic growth. However, starting from the second half of 2016, China's economic growth has been stable and progressing, and risk prevention has become the most important priority. tasks, therefore the review of subway projects needs to be tightened.

Extended information:

Subway is an important part of local infrastructure. Unlike highway projects, subway construction funds are generally borne by municipal finance.

Wu Yaping told the Economic Observer Network that the boom in subway construction since 2015 largely stems from the pressure on China’s economic growth from 2015 to the first half of 2016. After the second half of 2016, especially in 2017, China's economy has shown a trend of stability and improvement. Against this background, preventing and controlling risks, especially debt risks, has become the theme of 2017.

Since 2017, especially in the second half of 2017, the fiscal and financial systems have successively taken measures to curb the increase in local debt. Among them, the Ministry of Finance has successively issued Document No. 50 and Document No. 87 to regulate local governments. Debt financing and government purchase of services.

Reference materials: Economic Observer: Behind the suspension of Baotou subway: National Development and Reform Commission tightens the review of subway project planning