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News

Railway investment set to fall

9 November 2011
Investment in railway construction in China could fall to about Rmb500bn a year, according to an unnamed source quoted by China Securities Journal, down from the Rmb800bn a year proposed in a long-term plan.

The amount of money spent on railway fixed assets stood at Rmb842.6bn in 2010, and this year the Ministry of Railways plans to complete basic infrastructure investment worth Rmb600bn, the newspaper said.

The source said that China’s State Council ordered an adjustment to the medium-to-long-term plan for rail network expansion, “but no conclusive document has emerged yet”.

Government approval for railway projects slowed down following a crash on a new high-speed rail line in July that killed 40 people.

     
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