China: USD 78bn for railway projects in H2

chinaChina has invested more than CNY 265.1 billion (USD 41.4 billion) in domestic railway construction in the first half of 2015, up 12.7 percent, Xinhua reports. An additional 2,226 km of new rail lines were put into service.
At the start of the year, China set targets to invest more than CNY 800 billion (USD 125 billion) in railway construction this year, creating 8,000 km of new track. This means the country must spend more than CNY 500 billion (USD 78 billion) on railways and service 5,000 km of new lines by the end of the year.
“The government is pushing ahead with railway development with great efforts. The construction will boom in the latter half of the year,” said Wang Mengshu, a railway expert with the Chinese Academy of Engineering.

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