China will invest CNY 800 billion (USD 121.4 billion) in fixed assets in 2016 in order to expand the railway infrastructure, the official Shanghai Securities News reports.
Last year, China Railway invested CNY 824 billion (USD 125 billion) to build 9,530 km of new railway lines, including more than 3,3oo of high-speed lines.
State-owned China Railway expects to boost passenger traffic by 10 percent and freight volume by 2 percent in 2016, the paper quoted the firm’s general manager Sheng Guangzu as saying at a conference.
During 2011-2015, China’s total fixed asset investments reached CNY 3.58 trillion (USD 544 billion) and about 30,500 kilometers of new lines were added during that period, the paper said.
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