China invests more in railway construction

China invests more in railway construction
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Source: CCTV.com | 10-27-2008 14:13
China's State Council has approved two trillion yuan -- that's about 300 billion US dollars -- for investment in railway construction. That's essential to meet the aims of the mid-term and long-term Railway Network Plan that was issued four years ago by the Ministry of Railways.

According to the plan, the country would need two trillion yuan for railway construction between 2004 and 2020. So far, more than one trillion yuan has been injected into the ongoing nationwide construction. Through the initiative, China's total length of railway is expected to stretch 160,00 kilometers by the end of 2010. And that's expected to increase to 192,000 kilometers by 2020.

Many analysts say the investment will bring about a railway construction boom in China during the coming years. Since new opportunities are expected to emerge, total investment over the 17-year period could potentially exceed the current two trillion yuan target.

Meanwhile, the National Development and Reform Commission says the country's highway system has almost been completed. But the railway network is still lagging behind. The commission notes that the country's present railway network can NOT meet growing demand for both traveling and freight.

Category:

News & Politics

Tags:

• China

[jethromayham]

What's the difference between a black man and a large pizza?

A large pizza can feed a family of four.

Saw this joke posted on a site discussing signing of the debt ceiling!

[stephencarlmurphy1]

STEPHEN CARL MURPHY CO.

[davitodude]

Good for them. What happens though when the standard of living is raised to such a level that people begin demanding more money for their work? Revolution is what happens then.

[Microglia1]

This guy's shirt collar has too much cutback..making his face looks like a blossoming flower.

[nuggert]

no uk and usa japan is still insanely powerful compared to china

-o-

china is catching up quickly tho..probably going to take over as first within 10 years

[xy2010king]

@Sisomvox haha your comment is so funny lol!!!

[Sisomvox]

u are jealouse bcz china communist is so rich and powerful.

us will need more dollars from china to buy hotdogs

[tech4156]

300 billion dollars, ha the uk only invest 1 billion pounds

[applecounty]

Wow! Remarkable. Plese get up updated on interesting/difficult projects.

[547212436]

first!!!!!!!!!!!!!

lol