Date
18 August 2017

Rail, urban transport spending seen at 1 trn yuan, paper says

China is expected to invest a combined 1 trillion yuan (US$164.52 billion) in rail and urban transport this year, Shanghai Securities News reported Monday, citing transport expert Zhang Jiangyu. Railway spending is expected to come in between 650 billion yuan and 670 billion yuan, of which high-speed rail will account for about 80 percent. Urban transport will receive 320 billion yuan compared with 286 billion yuan last year, Zhang was quoted as saying. By the end of the year, the country will have an estimated 2,765 kilometres of railway tracks, up from 2,530 kilometres at end-2013 and the world’s longest, the report said.

– Contact HKEJ [email protected]

TL/AC/RA

 

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