The Chinese government plans to invest RMB3.5 trillion (US$525.9 billion) in railway construction during the 12th Five-Year Plan (2011-2015).
An unnamed official with the Ministry of Railways said the government would invest an average of RMB700 billion (US$105.18 billion) annually in the coming five years.
According to the ministry’s plan, future railway construction will focus on the refurbishment of old railways and the building of high-speed rail lines.
In 2015, the length of railways in China will total more than 120,000 kilometers and include 30,000 kilometers of new track.
CRIEnglish.com reports that more local governments and enterprises would participate in railway investment during the next five years.