China's railway construction is entering a new era.
HONG KONG, Aug. 21 /PRNewswire-Asia/ -- On Aug. 19th, the 12th session of Guangdong-Hong Kong collaboration meeting revealed that the Hong Kong-Shenzhen-Guangzhou Express Railway will be put into construction late this year. According to data released by the Ministry of Railway of the P.R.C. on early August, a total of RMB 281.708 billion has been invested into railway construction in the first 7 months this year, up 110.60% year-on-year; railway infrastructure investment totaled RMB 247.494 billion, up 136% year-on-year; July railway investment totaled RMB 49.745 billion, up 66.16% year-on-year; July railway infrastructure investment totaled RMB 46.038 billion, up 77.55% year-on-year. These data have demonstrated the buoyancy of railway construction in China.
On Aug. 10th, Deputy Director of the Ministry of Railway of the P.R.C., Wang Zhiguo, noted that China's railway construction investment plan for the next three years has been settled, with the average annual investments total value above RMB 700 billion.
The large sums of money will be channeled into two key areas: one is the Western Railway Network construction project, which includes building new railway lines and upgrading existing railway lines; the other is the Express Railway construction, which focuses on main arteries in the East.
Fairtheworld.com points out that a large proportion of China's 4 trillion Yuan stimulus package is devoted to railway construction. With this stimulus package gradually taking effect, the railway construction's role in boosting the economy will be more and more manifested. Apart from directly driving domestic demand, and bolstering associated industries, it will help to create leapfrog opportunities for regional economies.
For China's Eastern coastal area, which has been hit hard by the financial crisis, infrastructure constructions will definitely jumpstart its economy. Moreover, the Express Railway construction will make regional markets more closely linked, having great implications on logistics, trade, tourism and other industries. On the other hand, the Western region, with its strong cost advantages, is becoming a preferred place for industrial drift. More and more enterprises are moving from coastal areas to the Sichuan Basin, for example. Meanwhile, the rapidly developing West is attracting more and more skilled workers, and these high-quality workers in turn are bringing high-tech industries along with them. It is against this backdrop that the improvement of the Western Railway Network is exceptionally pivotal. A sound transport environment is a pre-requisite and catalyst for any economic growth, and the railway, as the engine of development, may become a launching pad for the Western economy.
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