China´s rail network receives boost
Source: CCTV.com | 11-20-2008 09:12
Investment in railway construction has reached a record high this year after the government announced a dramatic increase in spending on transport infrastructure to spur domestic demand. Major railway construction projects are underway all around the country.
|Trains are the most popular means of transport in China|
The Ministry of Railways says investment in railway construction in the fourth quarter of 2008 will reach 150 billion yuan -- equal to the total amount for the first three quarters of the year.
Experts say railway construction should be the leading force in boosting domestic demand, because it involves a long chain of industry and creates millions of jobs.
Trains are the most popular means of transport in China. And the capacity of the current rail network is far from adequate.
Wang Yongping, spokesman of Ministry of Railways, said, "The current overall transport capacity is still very tight for both cargo and passengers. The daily capacity for passengers is less than 3 million people. That cannot meet even half of the highest daily number of passengers. It becomes a lot more difficult to get tickets during the spring festival travel season. This situation will be improved after this year's jump in development."