China’s investment in its state railway operations dropped 5.1% in 2022, the third consecutive year of decline, as the country wraps up building the major lines of the world’s largest high-speed railway network, reports Nikkei Asia.
The fixed-asset investment declined to RMB 710.9 billion ($103.4 billion) last year from RMB 802.9 billion in 2019, according to a Wednesday statement from China State Railway Group.
The state-owned company operated a rail network of 155,000 kilometers at the end of last year, including 42,000 kilometers of high-speed railway. About 70% of the planned 16 major high-speed lines across the country have been completed, including eight running east-west and eight running north-south. Construction on most of the remaining projects is already underway.