China is looking to speed up construction of its railway network, according to a State Council meeting presided over by Premier Li Keqiang. 66,000 kilometers of railways will become operational this year, with 150 billion yuan or around 24 billion U.S. dollars in railway bonds to be issued for 2014.
The State Council also says nearly 80 percent of state investments will go to the less developed central and western regions of China saying that will boost effective investment, and related sectors, and help advance urbanization.
The state council also approved sources of railway financing, including a development fund, deepening the sector’s bond market, private investment, and subsidizing not-for-profit operations.
