China's toll roads have reported further losses due to a sharp rise in loan repayments.
The Ministry of Transport released a report Tuesday, saying that turnpikes nationwide posted combined losses of 157 billion yuan in 2014, a huge increase from 66 billion yuan a year ago.
Wang Tai, an official with the MOT, attributed the huge spending to the repayment of loans, which accounted for two thirds of the total costs.
The official also added that more detailed information about toll roads will be disclosed as the government department is formulating new regulations.
"Currently, the MOT is revising the regulation on the management of toll roads. An individual chapter about information disclosure will be added into the regulation. At the same time, the ministry is formulating measures of information disclosure to allow the public to gain access to more detailed information about toll roads. "
The MOT has published a guideline to attract private capital into the construction of roads so as to ease a hefty financial burden on the government.
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