Date
23 August 2017

Railway investment cut to 630 bln yuan for 2014, paper says

China Railway Corp. (CRC) will invest 630 billion yuan (US$104.048 billion) in railway fixed assets this year, down from 663.8 billion yuan in 2013, the 21st Century Business Herald reported Friday, citing general manager Sheng Guangzu. The money will be used in at least 44 new rail projects covering 6,600 kilometers of rail lines, primarily in the central and western regions. According to the country’s 12th Five-Year Plan, railway investments this year and next would total 1.2 trillion yuan, Sheng added. The company’s revenue in 2013 grew 7 percent year on year to 1.04 trillion yuan, the report said.

– Contact HKEJ at [email protected]

EL/AC/CG

 

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