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China speeds up railway construction with 115 projects fully resumed

June 03, 2020


Abstract : China's railway construction has entered the fast lane with 115 projects fully resumed, according to the Xinhua-run Shanghai Securities News on Wednesday.

BEIJING, June 3 (Xinhua) -- China's railway construction has entered the fast lane with 115 projects fully resumed, according to the Xinhua-run Shanghai Securities News on Wednesday.

It is reported that China State Railway Group Co., Ltd. (China Railway) is making efforts to push forward the railway construction and considering it as the most urgent task this year.

According to the company, in the second quarter of this year, the fixed-asset investment (FAI) in the railways nationwide will be 229.8 billion yuan (about 32.4 billion U.S. dollars), an increase of 4.1 percent year-on-year.

Data shows in April, the FAI in railways nationwide amounted to 67.8 billion yuan, an increase of 10.9 percent year-on-year, and nearly doubled month on month, showing a strong rebound.

It is noted that as of May 14, the number of workers engaged in the railway construction projects nationwide reached 637,000.

In mid-April, the China Railway adjusted its investment plan for the whole year, and specifically required that the investment in railways in the first half of this year should exceed that of the same period last year. The six railway projects, like the Hefei-Hangzhou section of the Shangqiu-Hefei-Hangzhou high-speed railway, are urged to start operation in the first half of the year, involving more than 1,000-km new lines.

Some experts forecast that the country's railway investment will grow at a high speed in the second quarter, and it is expected that 800 billion yuan of investment will be completed throughout the year.  (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)

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Keyword: fixed-asset investment railway construction

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