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Fri April 26 2024

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China approves £26bn of rail projects

19 May 15 China is accelerating investment in transport construction in a move it hopes will help stabilise economic growth.

The country’s top economic planner has approved the construction of six railways stretching more than 1,000 km and likely to cost about 250bn yuan (£26bn).

The projects include four high-speed lines in the eastern provinces of Shandong and Jiangsu, and in the north-eastern province of Liaoning and two urban rail transits in the south-western cities of Chengdu and Nanning.

The announcement came from the National Development & Reform Commission (NDRC) which made a further announcement yesterday, saying that the government will promote public-private partnerships to attract private capital into infrastructure construction and public enterprises.  

The NDRC said earlier this year that it would increase management of investment in 2015 and give investment a key role in stabilising economic growth.

In 2014, the NDRC approved projects worth 34 billion yuan for transportation infrastructure including railways, roads, airports and waterways.

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