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30 Dec, 2019 11:08

China to spend over $100 BILLION on railways next year

China to spend over $100 BILLION on railways next year

As part of its strategic goal of building a nationwide high-speed rail network, Beijing plans to invest about 800 billion yuan (US$114.36 billion) on the expansion of the country's railways in 2020.

According to China’s Ministry of Transport (MOT), 1.8 trillion yuan might be spent on roads and waterways, and about 90 billion yuan on civil aviation.

The country will strive to cover 98 percent of its countryside with delivery networks.

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According to MOT data, China’s investment in fixed assets in the transport sector is estimated at over 3.2 trillion yuan for 2019.

China’s first high-speed line was commissioned in 2007 and within four years the country developed the world’s largest network. By the end of 2018, China was operating 29,000km of high-speed lines, around two-thirds of the world’s total, having added more than 4,000 route-km in 2018.

The current network has considerably reduced the travel time between major Chinese cities. The rail authority is now considering extending new lines into some of the country’s more remote regions.

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