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October 12, 2016

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China approves 2 rail projects

CHINA’S top economic planning body said yesterday that it has approved feasibility reports for two railway projects with a total investment of 79.47 billion yuan (US$11.8 billion).

The two projects would be located in the country’s underdeveloped western regions, including Guizhou Province, the Guangxi Zhuang Autonomous Region and the Xinjiang Uygur Autonomous Region, according to statements on the website of the National Development and Reform Commission.

China has a vast and efficient railway network, but construction has lagged behind in the less developed western regions.

The approval came as the government looks to boost infrastructure investment in needy areas to support faltering economic growth.

The efforts have already taken effect to some extent, with fixed-asset investment growing 8.2 percent year on year in August, up by 4.3 percentage points from the previous month, official data showed.


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