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Rail Investments Chugging Along
Hordes of companies from home and abroad are expected to flood China's transportation sector in the coming years, said officials at the Second China Railway and Urban Transport Exhibition (ChinaRail 2001) Wednesday.
Drawn by the lure of China's accession to the World Trade Organization (WTO) as well Beijing's successful bid to host the 2008 Olympic Games, investors are expected to target the rail industry in particular.
According to the news release from ChinaRail 2001, China will construct 6,000 kilometers of new rails, 3,000 kilometers of multiple tracks and realize 5,000 kilometers of electric railways during the 10th Five-Year Plan period (2001-05). Another 450 kilometers of urban rails in more than 10 cities are expected to be completed by 2005, bringing the total operation mileage of railways in China to 80,000 kilometers by 2015.
The achievements of China's rail transport construction in the Ninth Five-Year Plan period (1996-2000) have captured world attention, said Zhang Kui-fu, secretary-general of the China Urban Public Transport Association (CUPTA), at the opening ceremony Wednesday.
The total railway rotation volume of goods and passengers increased 7.3 and 14.2 per cent respectively in the Ninth Five-Year Plan period, when compared with the previous five-year plan period, he said.
The ChinaRail 2001 will help the nation learn more about advanced rail technologies and equipment from home and abroad, as well as illustrate China's high-speed and continuous strategy of rail transportation, he added.
The four-day event has attracted more than 100 large companies and associations, including China South Locomotive and Rolling Stock Industry Corp, Bombardier Transportation, Siemens, Alstom Transport and Japan-China Railway Conference for Promoting Friendship.
Source: China Daily
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