Minister of Railways Fu Zhihuan disclosed on January 7 that China plans to pour 56 billion yuan into 15 new and 39 ongoing railway construction projects this year.

Fu said at the national railway work conference held here today that the country will create 1,300 km of new track and 750 km of double track, as well as 1,000 km of electrified railways.

Some 600 km of new lines and 700 km of double-track lines will be put into use, Fu added.

The minister noted in his work report that the railway sector aims to take in transport income of 103 billion yuan this year with profits of 500 million yuan.

He also predicted that the industry will carry 1.3 billion passengers and 1.58 billion tons of cargo in 2000.

China's railway industry eliminated losses in 1999, one year ahead of schedule, with a transport income of 99.8 billion yuan, up 8.3 percent over 1998.