Investment in China's railways during the first five months of this year grew 164.6 percent, according to statistics released by the Ministry of Railways (MOR).
During the first five months of the year, the nation's infrastructure investment in railways increased 161.8 percent. The large-scale investment boosted the rapid development of railway construction.
During the first five months, the nation built 1,942.5 kilometers of railway lines and 1,923.8 kilometers of double-track lines; 1,385.8 kilometers of electric railway lines were put into operation. Major projects including the Wuhan-Guangzhou special passenger line and coastal railways in Fujian will officially open in the second half of the year.
Meanwhile, railway investment and financing reform significantly progressed. From January to May, state-owned and joint-venture railway projects realized investment of 148.673 billion yuan, up 164.6 percent year-on-year.
Of that, MOR realized investment of 118.555 billion yuan, up 137 percent year-on-year. Local governments and enterprises realized investment of 30.118 billion yuan, up 388.5 percent year-on-year. The central government's investment has produced a noticeable effect of driving up local investment. Investment has also gradually become more diversified.
By People's Daily Online