Rail­way in­vest­ment up 1.9% in H1

China Daily (Hong Kong) - - BUSINESS -

China’s rail­way in­vest­ment in­creased in the first half of the year and na­tional rail­way in­vest­ment is ex­pected to hit a new high in 2017, au­thor­i­ties said on Wed­nes­day. In the first half, fixed as­set in­vest­ment on rail­ways hit 312.5 bil­lion yuan ($45 bil­lion), up 1.9 per­cent year-on-year, ac­cord­ing to the China Rail­way Corp. “In­vest­ment is ex­pected to hit a new high for the whole year, as con­struc­tion in the sec­ond half year will rise as new projects get un­der­way,” said Wang Meng­shu of the China Academy of En­gi­neer­ing. Sched­uled progress has been made in 27 ma­jor projects, in­clud­ing the Bei­jing-Shenyang pas­sen­ger line and the Hangzhou-Huang­shan high-speed line, CRC said. More lines will be started in the sec­ond half, in­clud­ing a high-speed line be­tween An­qing and Ji­u­jiang and a line be­tween Huang­gang and Huang­mei. re­port from Macro Polo, an in-house think tank of the Paul­son In­sti­tute at the Univer­sity of Chicago, aim­ing to an­a­lyze China’s econ­omy. China be­came the sec­ond-largest source of out­ward FDI for the first time in 2016, when Chi­nese com­pa­nies spent $183 bil­lion in cross-bor­der merg­ers and ac­qui­si­tions, ac­cord­ing to the World In­vest­ment Re­port 2017 re­leased by the United States Conference on Trade and De­vel­op­ment.

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