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China plans $115bn investments in railways this year

China plans to invest 800 billion yuan ($115.09 billion) in developing its railways this year, the same budget as in 2016, according to China Railway Corporation (CRC). In 2017, China will add 2,100 km of new rail lines and will electrify 4,000 km of rail lines, mainly in China’s central and western regions, reports Xinhua, citing a CRC’s  report. 

According to CRC, railways will generate a gross revenue of 911.6 billion yuan and will deliver over three billion passengers and 2.75 billion tonnes of cargo this year. 

At the end of 2016, China had a 124,000 km-long railway network, including the world’s largest high-speed rail network of more than 20,000 km.  2.77 billion trips were made on China’s railways, including 1.44 billion trips by high-speed trains, which is more than 52 percent of the total, said Lu Dongfu, general manager of CRC.

In 2016, over 60 percent of tickets were sold online, and more than 40 percent were bought via mobile phones.

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