China to Increase Rail Investment Bill to Over $100bn per Year

12 August 2009 (Last Updated August 12th, 2009 18:30)

China has settled its rail investment plan for the next three years at CNY700bn ($102bn) invested annually. The country's investment into railway construction rose 88.6% to CNY337.5bn in 2008, as part of the central government's efforts to stimulate the stagnant economy. The i

China has settled its rail investment plan for the next three years at CNY700bn ($102bn) invested annually.

The country's investment into railway construction rose 88.6% to CNY337.5bn in 2008, as part of the central government's efforts to stimulate the stagnant economy.

The investment is to support a masive countrywide project to build a 110,000km network by 2012.

By the end of 2009, the country is expected to complete 86,000km of the rail network, making the network the second largest in the world after the US.