On October 10, China’s Ministry of Railways stated that fixed asset investment in railways in China is expected to reach RMB 630 billion ($99.5 billion) in the current year.
According to the statistics released by China’s Ministry of Railways, in September this year fixed asset investment in railways in China totaled RMB 72.658 billion ($11.5 billion), up 92.7 percent year on year and 52.7 percent on month-on-month basis. Meanwhile, in the January-September period of the current year, fixed asset investment in railways in China totaled RMB 344.156 billion ($543.7 billion), decreasing by 15.8 percent year on year. Accordingly, close to half of the annual fixed investment target of RMB 630 billion ($99.5 billion) is expected to be implemented in the fourth quarter. It is thought that this impending investment in Chinese railways may exert a significant positive impact on the country’s economy.