High-speed slowdown
By Zha Minjie |
February 21, 2012, Tuesday
|
Print Edition
Print Edition
CHINA'S railway projects have slowed due to financing difficulties as well as safety concerns after last year's fatal crash in Wenzhou.
Media reports say 70 percent of 23 railway projects, most of them high-speed, had been stopped, partly stopped or were progressing slowly in a survey last August.
After the July 23 collision, the rail ministry called for checks on lines in service and under construction. But problems with funding also put the brakes on, Chinese Business Times reported. The ministry has earmarked 400 billion yuan (US$63 billion) for infrastructure this year compared to the 700 billion yuan spent in 2010.
Media reports say 70 percent of 23 railway projects, most of them high-speed, had been stopped, partly stopped or were progressing slowly in a survey last August.
After the July 23 collision, the rail ministry called for checks on lines in service and under construction. But problems with funding also put the brakes on, Chinese Business Times reported. The ministry has earmarked 400 billion yuan (US$63 billion) for infrastructure this year compared to the 700 billion yuan spent in 2010.
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