China to spend $630 bn on railways in 2012

By IANS,

Beijing : China plans to invest 400 billion yuan ($630 billion) on railway infrastructure in 2012.


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This is a slight decline from the 469 billion yuan spent this year, and a marked decrease from over 700 billion yuan in 2010, Xinhua reported.

This is the first time the Chinese government has announced a clear goal for future railway development.

Railway construction has been almost halted as the government has decided to slow the development of high-speed rail lines after a deadly train crash in July.

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