China Railways fixed asset investment rose 6.3% in the year to May

The city of Guizhou in south-central China will get improved links to the country’s southeastern provinces (Ryedamien/CC BY-SA 4.0)
Data from China Railways, the country’s national rail operator, shows that fixed-asset investment in the first four months of the year was $24bn, a 6.3% rise on the same period in 2022.

According to news agency Xinhua, the money went to projects listed in the 14th five-year plan, which runs between 2021 and 2025.

In particular, track laying has been completed on the link from the port of Tianjin to Beijing Daxing International Airport.

Other notable completions included the track laying on the high-speed railway linking Nanchang, capital of Jiangxi province, and Huangshan in Anhui province.

Tests were also carried out on a section of the new high-speed link between Guiyang in central China and the city of Nanning in the southeast.

Earlier data released by China Railways showed that its revenue jumped 18% year-on-year during the first quarter, reaching $39bn.

China Daily notes that the increase in asset building is part of the government’s efforts to boost the economy in the wake of the pandemic.

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