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China to invest over 800 billion RMB in railway construction in 2017
 
Date:2017-02-14  Source:People's Daily Online

 

China plans to start 35 new railway projects in 2017, spending upwards of 800 billion RMB on new lines, Economic Information Daily reported on Feb. 14. 

The construction plan, which will be carried out by China Railway Corporation (CRC), states that China will maintain its railway investment scale and complete its scheduled investment in fixed assets. In 2016, China invested 801.5 billion RMB in fixed assets in the domestic railway sector, starting 46 new projects. China's operating railway lines covered 124,000 kilometers by the end of 2016, and high-speed rails exceeded 22,000 kilometers. 

Recently, many regions have released their key project construction plans for 2017, with railways making another strong showing. Guangzhou, for instance, plans to invest more than 49 billion RMB in 56 railway construction projects this year. 

Lu Dongfu, general manager of CRC, stressed at the company's annual work conference that they plan to continue promoting railway construction and strengthening project quality and safety. Lu said the release of a longer-term plan and devolution of project approval rights will further boost railway investment.  

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