Belt & Road: long on interest, short on money

Transit operators like Hong Kong's MTR see huge opportunities in Beijing's masterplan, but high risk means private funding is stuck in the sidings ... and some projects could go off the rails entirely.

China's grand Belt and Road Initiative is doubtless causing a stir of excitement across Asia's financial community. But the question of backing the hyperbole with cold, hard cash is perplexing not just government officials but also corporate executives.

At the second Belt and Road Summit in Hong Kong on Monday, representatives of firms including Hong Kong transit operator MTR Corporation, state-run China Railway Construction Corporation CRCC and Philippine conglomerate Ayala Corporation set out their stall on Belt and Road. All are anxious to find growth opportunities from Chinese President Xi Jinping's mega-initiative, but were also concerned about the shortage of private sector involvement and risks associated with some of...

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