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China Pours RMB 7 Billion into Rail Construction in First Quarter
China invested 7.38 billion yuan (US$ 889.16 million) in railway construction during January-April, according to the latest statistics from the Ministry of Railways.
The ministry itself has put in 6.8 billion yuan (US$ 819.28 million), accounting for 18.1 percent of the annual budgeted investment, with 820 million yuan (US$ 98.80 million) from local departments and joint-venture firms.
Of the 39 rail projects under construction, the Qinhuangdao- Shenyang passenger transport line has received an investment of 878 million yuan (US$ 105.78 million), and 125 million yuan (US$ 15.06 million) has been spent on the Zhuzhou-Liupanshui two-way track.
China plans to pour 56 billion yuan (US$ 6.75 billion) into 1,300 kilometers of new railway and a total of 750-kilometer two-way track this year.
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