Date
26 April 2018

Local rail investment almost triples in first 9 mths, paper says

Investment in local railways almost tripled during the nine months to September, rising to 1.404 billion yuan (US$230.226 million), up 1.044 billion yuan or 289.2 percent year on year, Economic Information Daily reported Thursday. Wang Mengshu, from the Chinese Academy of Engineering, said that even though capital is generally tight among local administrations, they are more aware of the long-term economic benefits of railway construction. During the first three quarters, China’s overall railway investment totaled 328.696 billion yuan, of which 327.291 billion yuan was directly funded by the State Council, and the joint capital of China Railway Corp. and other local governments or companies, the report said.

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