China’s fixed asset investment in railway totals 800 bln yuan in 2019

EYEAFRICATV: Longshan County, Central China: China’s fixed-asset investment (FAI) in railways totaled 802.9 billion yuan (about 115.3 billion U.S. dollars) in 2019.

According to the data released by China State Railway Group Co., Ltd. on Thursday,3.85 billion passenger trips are estimated to be made by rail in 2020 with more state-owned railway companies being listed in the stock markets.

Among the investment of 802.9 billion yuan (about 115.3 billion U.S. dollars), 751.1 billion yuan (about 107.9 billion U.S.dollars) was for the railway construction, with 8,489-kilometer rail line newly built, including 5,474 kilometers of high-speed rail line.

“In 2020, we will advance service ability of passenger transport to be more information-oriented and intelligence-oriented, complete the task of promoting high-speed rail e-tickets to be applied across the country, initiate pilot work of ordinary-speed rail e-tickets and establish membership on the website 12306.cn,” said Lu Dongfu, general manager of China State Railway Group Co., Ltd.

In 2020, China State Railway Group Co.,Ltd. will ensure substantial progress be made that enterprises including Beijing-Shanghai High-Speed Railway Co. Ltd., China Railway Special Cargo Logistics Co. Ltd., Gemac Engineering Machinery Co., Ltd, and Beijing Tieke Shougang Track Technology Corp., Ltd. to be listed after equity division reform.

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