China to spend $438b on new rails over the next five years
Updated: 2015-11-27 13:32
By Dai Tian(chinadaily.com.cn)
|
|||||||||||
A CRH train that runs on the Beijing-Shanghai High-Speed Railway leaves Tianjin South Railway Station in North China's Tianjin, June 30, 2012. [Photo/Xinhua] |
China sets to invest a total of at least 2.8 trillion yuan ($438 billion) in railway construction during the 13th Five-Year Plan period (2016-2020), reported Economic Information Daily.
National railway network will grow by more than 23,000 kilometers over the next five years, with intercity projects and ones in Midwest regions being priority, said the newspaper citing people familiar with the matter.
China's railway construction has been on a fast track, as the country saw the annual investment surge by 11.3 percent from 580 billion yuan in 2011 to 800 billion yuan in 2014.
During the 12th Five-Year Plan period, China spent a combined 3.47 trillion yuan on new rails, exceeding the original target of 2.8 trillion yuan by far, according to the newspaper.
High-speed railway remains as one of the key infrastructure projects, according to the 13th Five-Year plans released by local governments.
Projects that are expected to be underway include lines from Yinchuan to Lanzhou, Baotou to Xi'an, Chongqing and Guiyang, Datong to Taiyuan and Zhanjiang, and Xiamen to Changsha and Chongqing.
Beijing plans to expand its suburb rail lines by 800 kilometers, and urban transits by 900 kilometers, according to its 13th Five-Year Plan proposal.
The Belt and Road Initiative will also boost exports of high-speed rail technologies and related products, said the newspaper citing a government plan, adding that China expects rail equipment sales to exceed 650 billion yuan by 2020.
As the country makes its way into becoming a leading player, exports will account for more than 30 percent of the sales by 2020, while 15 percent is expected to come from service trades, according to the plan.
Related Stories
China, Russia plan bullet train joint venture 2015-11-27 06:58
More high-speed rail lines to be built over next five years 2015-11-24 13:40
Rail manufacturers target $102b in sales within five years 2015-11-19 13:50
High-speed trains pass major speed test of 385 km/hour 2015-11-19 11:07
German rail firm poised to procure parts in China 2015-11-18 07:59
Today's Top News
Beijing to adopt world's strictest emissions standard
Erdogan-Putin meeting possible: Turkish presidency
China to spend $438b on new rails over the next five years
Xi urges breakthroughs in military structural reform
Chinese play growing part in online shopping
Surviving Russian pilot says no warning from Turkey
Xi to attend Paris climate conference
Putin: Turkey's downing of jet 'stab in the back'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Xi just needs to turn up for a grand welcome |
Stepping up |
Rural families still hope for male heirs |
Blue skies over Beijing ... for now |
V-Day parade for 70th WWII anniversary |
Tianjin blasts: Death, damage and bravery |