china allocates 117 billion to expand railway network
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China allocates $117 billion to expand railway network

Arab Today, arab today

Arab Today, arab today China allocates $117 billion to expand railway network

Chinese railway
Beijing - Arab Today

China will pump in $117 billion for the second consecutive year to add 35 new projects to the world's second-largest railway network as it aims to halt the slowdown of the economy through massive state investments.

Construction of 35 new railway projects will begin in 2017 to expand the network, state-run Xinhua news agency reported. 

The report cited unnamed officials as saying that construction will start on 2,100km of new rail lines, 2,500km of double-track lines and 4,000km of electrified lines this year.

To achieve the targets, China Railway Corp (CRC) has been assigned a budget of 800 billion yuan (about $117 billion) by the central government, the same as in 2016, the report said.

Vice Minister of Transport Yang Yudong has earlier said China will spend 3.5 trillion yuan on railway construction during the 13th Five-Year Plan period (2016-2020).

By 2020, China will have increased the length of high-speed railways in operation to 30,000kms, connecting more than 80 per cent of its big cities.

China already had a 124,000km railway network, featuring the world's largest high-speed rail network of more than 22,000km till last year.

The big push for bullet trains evoked criticism as except for the Beijing-Shanghai line, most of the other high-speed lines were found to be not profitable.

While the vast network has enhanced connectivity in the country, construction of lines lags in the less-developed western regions. To address this gap, much of this year's planned projects will happen in central and western regions, to support the wider poverty-relief campaign, the CRC said.

The $117 billion allocation also meant China wanted to continue its reliance on an investment-driven economy to spur growth. The economy slowed down to 6.7 per cent from 6.9 per cent in 2015, a 25-year-low.

The slowdown is expected to continue.

Source :Times Of Oman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china allocates 117 billion to expand railway network china allocates 117 billion to expand railway network

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china allocates 117 billion to expand railway network china allocates 117 billion to expand railway network

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday