China to Add 6,800 KM Railway Line This Year
By Mei Manuel, January 02, 2019 22:01 PM
On Wednesday, China's major railway operator said that China will be investing in 6,800 kilometers worth of new railway lines this year as part of the campaign to boost infrastructure spending.
According to China Railway Corp in their WeChat post, 3,200 kilometers will be reserved for the high-speed railway, adding to the 4,100 kilometers added last year.
The company added that last year, the country invested 802.9 billion yuan in rail fixed assets and had even set an initial asset of 732 billion yuan in January. But, they did not specify how much investment will be placed this year.
China has been spending billions of dollars to improve its railway network, but there have been signs showing that they are starting to slow down as the network grew and local government debt is raised up by the national government. However, during the second half of 2018, the government resumed infrastructure projects to spur growth in the slowly economy and approved new railway projects and reviving those which were suspended.
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