China approves $8.44b urban railway projects
SHANGHAI: China has approved construction plans for two urban railway projects with a total investment value of 55.0 billion yuan ($8.44 billion), the country's top economic planner said in statements on its website on Thursday. The projects include a 16.1 billion yuan urban railway in Wuhu, a city in the southeastern Anhui province. Another project, worth 38.9 billion yuan, is an urban railway in Xi'an, a city in the central Shaanxi province. Beijing has approved billions of dollars in infrastructure projects in recent months to stem a sharp economic slowdown. The government has been particularly keen on projects in the less-developed western part of the country.