Railway projects on track to meet target

China is on track to meet its annual railway investment target, with fixed-asset investment in the sector up 1.2 percent year-on-year to 325.8 billion yuan ($46.4 billion) in the first half of this year, the country’s railway operator said.

Reeling from the impact of the novel coronavirus outbreak, national railway investment tumbled 21 percent year-on-year in the first quarter to 79.9 billion yuan, the China State Railway Group said.

But it increased investment in the second quarter and sped up the construction of new railway projects, with quarterly investment rising to 245.9 billion yuan, up 11.4 percent year-on-year.

The extra investment made up for the first-quarter deficit.