2018 rail investment lowered to $113b

Source:Reuters-Global Times Published: 2018/1/2 21:58:39

China's national railway operator said on Tuesday that the country plans to invest 732 billion yuan ($113 billion) in rail fixed assets in 2018, its lowest target since 2013.

China Railway Corp made the comments through its news publication, People's Railway Network. China, which invested 801 billion yuan in rail fixed assets in 2017, has for the last four years set an annual target of 800 billion yuan. Its target for 2013 was 660 billion yuan.

The railway operator also said that it aimed to build 4,000 kilometers of new lines this year, 3,500 kilometers of which will be high-speed rail tracks.

China's railways will cover 150,000 kilometers by the end of 2020, about 30,000 of which will be high-speed rail lines, according to the company.

The railway operator said that it will construct a developed modern railway network by 2035.

Posted in: ECONOMY

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