China’s railway investment surges 10.8% in Jan.-May

China is ramping up railway construction in 2024, with a 10.8 per cent year-on-year increase in fixed-asset investment in the sector, Xinhua reported on Tuesday.

Data from China State Railway Group shows that fixed-asset investment in the railway sector reached 228.47 billion yuan ($32.12 billion) from January to May.

The investment figures build upon a strong start, with the first four months of 2024 already seeing 184.9 billion yuan invested in the railway sector.

Recent achievements include the completion of tracklaying on a high-speed railway section connecting Meizhou and Longchuan in Guangdong province. This milestone marks a significant step towards opening the new line to traffic.

China State Railway Group highlights the crucial role of a robust railway network in driving economic growth.