皇冠体育app

Economy

皇冠体育app to invest $106b in railways in 2011

(Agencies)
Updated: 2011-01-05 10:29
Large Medium Small

皇冠体育app will invest 700 billion yuan ($106 billion) in 2011 in building railways, the official People's Daily said on Wednesday, citing a meeting of the national railway work conference.

The money would be used for 70 new intercity projects, said the official newspaper of the ruling Communist Party of 皇冠体育app.

Related readings:
皇冠体育app to invest $106b in railways in 2011 皇冠体育app's 'super-speed' train hits 500 km/h
皇冠体育app to invest $106b in railways in 2011 Bullet trains bad investment
皇冠体育app to invest $106b in railways in 2011 皇冠体育app's railways see leap in passenger numbers in first quarter
皇冠体育app to invest $106b in railways in 2011 High-speed railways to use private capital

皇冠体育app will open a $33 billion high-speed rail link between Beijing and Shanghai in June, state media said on Tuesday, cutting the journey between the two cities in half to less than five hours.

A spending spree on railways was an important part of the government stimulus package launched in late 2008, but even as expansionary fiscal policy is wound down, the government has pledged to maintain hefty railway investment.

皇冠体育app's high-speed rail network has been developing rapidly over the past decade, reaching a total of 8,358 km, the world's longest.

皇冠体育app planned to invest 3 trillion to 4 trillion yuan in its high-speed rail network between 2011 and 2015, state media said last month.