China Railway Corp has reportedly revealed plans to invest in 6,800km of new railway line this year as a part of the government’s plan to increase infrastructure investment. The operator said that the plan includes installation of at least 3,200km of high-speed rail in the country.
Last year, the company invested in 4,683km of rail lines, including 4,100km of high-speed rail. China invested CNY802.9bn ($117.12bn) in rail fixed infrastructure last year, higher than the initial target of CNY732bn ($106.75bn).
Over the last decade, China has invested heavily in its railway infrastructure, including high-speed rail.
“Over the last decade, China has invested heavily in its railway infrastructure, including high-speed rail.”
In the last few years, the amount of investment has reduced in an attempt to tackle the growing local government debt. The funding target for last year was the country’s lowest since 2013. China Railway did not provide the investment target for this year.
The National Development and Reform Commission (NDRC) has approved eight inter-city railway projects in the eastern provinces of Jiangsu and Anhui, involving a combined investment of $33.82bn.
In a statement, the NDRC said that the projects will involve the construction of 1,063km of railways including 980km in Jiangsu. Last month, NDRC approved $43.28bn of urban railway projects in the city of Shanghai. It includes the construction of six subway lines and three inter-city railways.