Date
20 July 2018

China Railway Corp to boost railway investment in 4Q, paper says

China Railway Corporation (CRC) is expected to increase railway investment in the fourth quarter as the national railway operator is no longer short of capital, China Business News reported Wednesday. There is usually a spike in railway investment in the last quarter, as authorities try to meet investment quotas set for the year, Wang Mengshu, a professor at the Chinese Academy of Engineering, was quoted as saying. According to official figures, railway fixed-asset investment in the nine months to September rose 7.4 percent to 369.7 billion yuan (US$60.7423 billion) from a year earlier, while railway infrastructure investment was up 12.5 percent at 328.7 billion yuan. The CRC earlier said it planned to invest up to 690 billion yuan in railway fixed assets this year, the report said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

 

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