All aboard: country gets to work on the railroad

Source: Xinhua | June 19, 2009, Friday |

Print Edition

CHINA saw a surge of investment in railway construction as the country pledged to increase spending as an effort to buoy the world's third-largest economy.

In the first five months, China pumped 168.9 billion yuan (US$24.7 billion) into railway fixed assets, up 120 percent from a year earlier, the Ministry of Railways said in a statement on Wednesday.

The money included 149 billion yuan for railway infrastructure construction, up 162 percent from a year ago; 3.3 billion yuan for railway upgrading, and 16.6 billion yuan for purchasing trains, according to the ministry.

The country built 19,433 kilometers of new rail lines in this year's first five months.

China unveiled a 4 trillion yuan stimulus package in November to boost the slowing economy amid the global economic downturn. Public infrastructure development took up 1.5 trillion yuan, the biggest share, of the total package. The projects cover railways, roads, irrigation and airport construction.

(Xinhua)

Transport

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All aboard: country gets to work on the railroad

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