Guangzhou to invest $9.6b in railways over 5 years

Guangzhou’s reform and development commission said that the southern city plans to spend US$9.6 billion over the next five years to expand its railway network, the South China Morning Post reported. A draft plan presented to the city’s people’s congress showed that Guangzhou intends to expand the eight-line metro system by building three additional lines. The city will continue the improvement to intercity rail links, building new links to cities around the province. The plan also revealed that the city will complete the building of 68,700 low-cost, subsidized homes, and begin construction of 43,000 more, in an attempt to curb rising prices and make housing more affordable for local residents.