China already boasts a large high-speed rail network. Additional investments in infrastructure are aimed to increase the network to 30,000 kilometers in 2020.
By the end of 2015, China had 121,000 kilometers of railway lines, including 19,000 kilometers of high-speed tracks.
In a new plan to bolster growth and improve connectivity across the country, an investment of €478 billion will help increase the size of the network further. The network is set to cover 80 percent of major cities in China. Further rail investments will be made in the less prosperous western cities. Bloomberg reports that China will also add 3,000 kilometers to its urban rail transit system.
According to Bloomberg, rail reforms will including raising ticket prices and allowing private investment to help cover the financial losses of state-run China Railway Corp. The rail operator incurred a loss after tax of €762 million in the first nine months of 2016.
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