Government and Policy

Bullet train heads for achievement show in Beijing

Updated: 2011-03-06 11:31

By Wang Xing (China Daily)

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Bullet train heads for achievement show in Beijing

Workers at the China National Convention Center prepare to transport a locomotive of the domestically developed "Harmony" bullet train to the square outside the center in Beijing, March 5, 2011. The locomotive will be part of a technological achievement exhibition that opens on Monday. [Photo/Xinhua]

Related reading: Regulators study railway loans in wake of corruption probe

BEIJING - China's financial regulators said on Saturday that they have demanded that all mainland banks to check the possible loan risk related to high-speed railway projects, as the Party discipline watchdog and government supervision authority are investigating the former railway minister on charges of corruption and other misconducts.

Yan Qingmin, assistant chairman of the China Banking Regulatory Commission, told China Daily on the sidelines of the annual session of the National People's Congress that the top financial watchdog has noticed the possible loan risk to the country's aggressive railway construction and asked all the banks to check the credibility of their loans to the construction of new railway lines. [Full story]

Special coverage: 2011 NPC and CPPCC

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