Na­tion to spend $503b on rail

China Daily (Hong Kong) - - BUSINESS -

China plans to spend 3.5 tril­lion yuan ($503 bil­lion) to ex­pand its rail­way sys­tem by 2020 as it turns to in­vest­ment in in­fra­struc­ture to bol­ster growth and im­prove con­nec­tiv­ity across the coun­try. The high-speed rail net­work will span more than 30,000 kilo­me­ters un­der the pro­posal, ac­cord­ing to de­tails re­leased on Thurs­day. The dis­tance, about 6.5 times the length of a road trip be­tween New York and Los An­ge­les, will cover 80 per­cent of ma­jor ci­ties in China.

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