China plans to almost double its investment in railways to about RMB600 billion ($87.9 billion).
The money is part of the RMB 4 trillion stimulus package announced by the government.
According to a national conference on railway construction in 2008, China spent RMB330 billion on railways.
Minister of Railways Liu Zhijun at the meeting said part of next year’s RMB 600 billion would be used to build a total of 5,148 km of new railways.
The minister also said the money will help put five passenger-dedicated, high-speed lines into operation next year. These rails will link the central city of Wuhan to the southern city of Guangzhou; Zhengzhou in central Henan Province to Xi’an in northwest Shaanxi Province; Ningbo to Wenzhou, both in east China’s Zhejiang Province; Wenzhou to Fuzhou in southern Fujian Province; and Fuzhou to Xiamen, also in Fujian.
The ministry also planned to start 70 new projects next year with part of the money. The minister said those projects will need a total investment of RMB1.5 trillion to be completed.
Railways inside the country will reach 110,000 km by 2012.
Source: China View