Spend­ing on new rail lines de­clines

China Daily (Canada) - - BUSINESS -

China plans to in­vest in more than 3,200 kilo­me­ters of newrail­way line in 2016, in­clud­ing around 1,300 kilo­me­ters of high-speed rail­way, ac­cord­ing to of­fi­cials from the China Rail­way En­gi­neer­ing Corp, caixin.com.cn re­ported. It means that this year will see the low­est in­vest­ment in newrail lines since 2011, a de­crease of 66.43 per­cent com­pared on a year-on-year ba­sis. which be­came the first Chi­nese de­vel­oper to de­fault on off­shore bond coupon pay­ments in 2015, said the pro­ject area blocked by Shen­zhen au­thor­i­ties from sales dropped by al­most two-thirds since Novem­ber 10 and the area frozen by courts shortly af­ter its fi­nan­cial dif­fi­cul­ties be­came pub­lic has de­creased by al­most half. The au­thor­i­ties had blocked most of Kaisa’s Shen­zhen projects since De­cem­ber 2014.

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