CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

China's railway investment to top 700 billion yuan this year: spokesperson

05-06-2011 20:25 BJT

BEIJING, May 6 (Xinhua) -- China's Ministry of Railways announced on Friday that its total investment this year will reach 745.5 billion yuan (about 115 billion U.S. dollars), with 600 billion yuan going toward infrastructure construction, according to ministry spokesperson Wang Yongping.

The official statement follows media reports saying the ministry could scale back investments by as much as 200 billion yuan this year as the rapid expansion of the country's high-speed rails leads to debt concerns.

Wang said the arrangement was a proper one because it reflects the continuity of railway construction, and meets the capital demands of projects under construction.

He said that during the country's 12th Five-Year Plan Period (2011-2015), the ministry will proceed with railway construction in accordance with the country's economic and social development and the public's satisfaction, adding that investments during the period will hit 2.8 trillion yuan.

Wang said China's high-speed rail tracks will expand to 45,000 km by 2015. Railways in the country's western regions will be extended to 50,000 km.

 

 

Editor:Zhang Pengfei |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program