BEIJING — China is expected to launch new rail lines totaling 4,400 km this year as the country steps up infrastructure investment to shore up the economy, the China State Railway Group said.
Among the new lines, high-speed rail lines are expected to reach 2,300 km this year, the company said.
China has accelerated the resumption of railway projects amid control of the COVID-19 epidemic, with fixed-asset investment in railways reaching 325.8 billion yuan (about $46.51 billion) in the first half of this year (H1), up 1.2 percent year on year, the company said.
The country has vowed to increase effective investment this year to support the economy, ramping up investments in new infrastructures, new urbanization initiatives and major projects.
China’s fixed-asset investment went down 3.1 percent year on year in H1, narrowing from the 6.3-percent decline in the first five months, data from the National Bureau of Statistics showed.