The Haizhu Bay Tunnel, the first super-large-diameter shield tunnel in the Pearl River Basin, was finally drilled through in Guangzhou, south China's Guangdong Province, on Monday, marking new progress in its construction.
The total length of the two-way six-lane tunnel, a provincial and municipal double key project, is 4.35 kilometers. The shield section is 2,077 meters long, and the excavation diameter is 15.07 meters, while the outer diameter of the segment is 14.5 meters.
"The Haizhu Bay Tunnel is the most crucial control project of the Guangzhou South Railway Station's rapid transit system. It is also the first project in Guangzhou to utilize a super-large-diameter shield tunnel to cross the Pearl River system. Today, the smooth operation of the boring machine used for constructing the west tunnel marks the achievement of the drill-through of two tunnels of the key project in Guangdong Province," said Wang Haijun, general manager of the project.
Upon its completion and inauguration in 2025, it will form an express channel between Guangzhou's city center and Guangzhou South Railway Station, cutting the travel time between them to 15 minutes, and further improve the infrastructure level of the Guangdong-Hong Kong-Macao Greater Bay Area.
Ultra-large-diameter tunnel drilled through in Guangdong
China's issuance of its first Renminbi-denominated green sovereign bonds on the London Stock Exchange on Wednesday represents a strategic leap in global sustainable finance and currency internationalization, said a Chinese economist.
According to the Ministry of Finance, it successfully completed the bookbuilding and issuance of six billion yuan (around 825.52 million U.S. dollars) in green sovereign bonds in London on behalf of the central government.
This bond issuance delivers on commitments made during January's China-UK Economic and Financial Dialogue in Beijing.
To support this initiative, the ministry released a framework for sovereign green bonds in February, paving the foundation for the country to issue offshore sovereign green bonds and global capital to invest in its green development.
"The issuance is open to international investors, providing them with clear and standardized investment guidelines. It shows China's open attitude. This is about setting international standards. By issuing a bond that it needs, China is actively engaging in setting an international standard," said Zou Jingxian, an associate professor of the National Academy of Development and Strategy under Renmin University of China.
The move also comes as global demand for green sovereign bonds continues to grow, with such instruments typically enjoying strong investor appetite and favorable interest rates.
"The green transformation is critical for China's economy and also meets the public growing demand for a better quality of life. The funds raised through these bonds will be allocated to specific areas like green innovation, renewable energy. Second, it can boost international confidence in China's economy. We know that confidence is important for one economy. By issuing green sovereign bonds, China can attract more international capital," said Zou.
China issues first RMB green bonds in London, advancing global sustainable finance: expert
