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Chinese Railway Corporation (CRC): US$104.2 billion to be invested in fixed assets in 2014

The Chinese Railway Corporation (CRC) plans to allocate 630 billion yuan (US$104.2 billion) to invest in fixed assets in 2014, with new railway construction estimated to be more than 6,600 kilometers, CRC General Manager Sheng Guangzu revealed at the company’s work conference in Beijing, which was the first since it was founded in March 2013, according to China Times publication.

The investment in the railway fixed assets was likely to post moderate and stable growth in the following years. CRC data showed that the combined operational mileage of the railways has been in excess of 100,000 km in China since 2013, including about 10,000 km in high-speed rail. The total passenger volume was recorded at over 2 billion.

In 2014, the company expects to deliver 2.27 billion passengers, up by 10%, and ship 3.28 billion tonnes of goods, up by 2%.

Source* www.wantchinatimes.com

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